Cleary Gottlieb Steen & Hamilton is regarded as ‘one of the best such groups in New York’ and peers note that ‘they have always been exceptionally knowledgeable, tactically intelligent, considerate of their co-defense counsel and focused on winning without fanfare’. Practice head Roger Cooper is highly regarded by clients and peers, and his work with key partner Jared Gerber in a securities class action for pharmaceutical company Allergan is typical of the high-calibre work the firm handles. In that case, which his awaiting summary judgment, plaintiffs allege that the company made misstatements and omissions concerning the health risks associated with certain breast implant products. Also central to the practice is Victor You, who is ‘a very strategic thinker, who spends time to consider all angles’ and is praised as a ‘strong advocate for his clients’. He is currently working with Gerber to defend a putative securities class action against Synchrony Financial, which is accused of making materially misleading statements and/or omitting material information concerning its underwriting practices and partner relationships. Counsel Elsbeth Bennett in Washington DC, previously a trial attorney at the DOJ, joined the firm in late 2022 to add expertise in securities fraud matters as well as restructuring disputes, consumer class actions and trade secret misappropriation.
Securities litigation: defense in United States
Cleary Gottlieb Steen & Hamilton
Other key lawyers:
Jared Gerber; Victor Hou; Elsbeth Bennett
‘Victor Hou is a strong advocate for his clients. His name is held in high regard at the USAO. As a result, when he is asks the USAO to reconsider their position they are genuinely reflective in their thoughts.’
‘Victor Hou is a very strategic thinker. He spends time to consider all angles and the right approach when making an argument. Importantly, he is open to the client’s view, most firms are not.’
‘Roger Cooper is an excellent lawyer.’
Bank of America – Merrill Lynch
International Flavor & Fragrances
Juul Labs, Inc.
Sandra Seligman and Seth Meltzer of Sterling Bancorp
Two Sigma Securities
- Advising International Flavors & Fragrances Inc. (“IFF”), Frutarom Industries Ltd. (“Frutarom”) and two of IFF’s officers in a putative securities class action brought in the United States District Court for the Southern District of New York alleging that the defendants made material misstatements and omissions concerning IFF’s acquisition of Frutarom, the integration of the two companies and IFF’s and Frutarom’s financial reporting and results.
- Advising Merrill Lynch in a civil fraud action brought by Loreley Financing (Jersey) No. 28, Limited, a limited purpose vehicle, in New York state court. The Loreley plaintiff sought over $60 million based on allegations that Merrill Lynch had fraudulently misrepresented details regarding a collateralized debt obligation that Merrill Lynch had arranged.
- Advising the private-label credit card company Synchrony Financial, several of its officers, and its board of directors in a putative securities class action in the District of Connecticut. Plaintiffs brought claims against Synchrony and other defendants under the Securities Act of 1933 and the Securities Exchange Act of 1934.
Cravath, Swaine & Moore LLP
Cravath, Swaine & Moore LLP in New York is known for ‘subject matter expertise, professionalism and extraordinary service’, and clients describe the practice as ‘professional, expert, and highly respectful of process, people and the law’. Co-heads of the litigation department Gary Bornstein and Kevin Orsini are key members of the securities litigation practice, which is highly regarded for the work of its standout partners Daniel Slifkin, Antony Ryan and Karin DeMasi. ‘Their knowledge of the law and securities litigation specifically is unmatched’, remarks one client. The firm’s presence in new and emerging areas of the market is shown by the work of Orsini and Ryan in the defense of Robinhood Markets in high-profile “meme stock” litigation, in which it has won the dismissal of two of three tranches of claims brought against the company. Ryan and Rachel Skaistis are representing Qualcomm in a shareholder class action securities suit in California, and Bornstein is working with Ryan in the defense of Deutsche Telekom in putative class action and derivative litigation. Emerging partner talents Lauren Rosenberg, who worked with Ryan and Orsini in the class action defense of Dfinity USA Research, and Lauren Moskowitz are key members of the practice.
Gary Bornstein; Kevin Orsini
Other key lawyers:
Daniel Slifkin; Antony Ryan; Karin DeMasi; Rachel Skaistis; Lauren Mokowitz; Lauren Rosenberg; Timothy Cameron
‘Subject matter expertise, professionalism, extraordinary service.’
‘Professional, expert, highly respectful of process, people and the law.’
‘Their knowledge of the law and securities litigation specifically is unmatched. They brought their absolute best to the table for our matter and ensured that younger associates were included, and their associates (even summer and first year) are some of the best and brightest I’ve encountered.’
‘The attention to detail, knowledge of the intricacies of our case, and the ability to manage individuals at every level of our organization was wildly impressive. Timothy Cameron and Lauren Rosenberg ensured that every member of Cravath team was engaged, thinking outside of the box and doing everything within their power to make our case a successful outcome. This team was dedicated and invested in our matter, they showed a level of care, compassion and professionalism that is lacking at other firms. This matter was not a check to them, it was an opportunity to build a lasting relationship and make things right for a client that was in a challenging position with litigation.’
Deutsche Telekom AG
First Solar, Inc.
Novartis Pharmaceuticals Corporation
Occidental Petroleum Corporation
Peabody Energy Corporation
Robinhood Markets, Inc.
Tesla Board of Directors
- Won a major trial decision for Tesla CEO Elon Musk, defeating a stockholder derivative action that had sought $13 billion in damages related to Tesla’s acquisition of SolarCity.
- Representing Robinhood as lead counsel in dozens of lawsuits, including numerous putative class actions, involving securities and various other state and federal claims arising out of Robinhood’s decision to temporarily place certain restrictions on trading in certain securities in the face of unprecedented market volatility.
- Representing Dfinity in purported class action securities litigation that raises whether Dfinity’s Internet Computer Project master governance tokens qualify as securities – a key issue in the cryptocurrency space.
Davis Polk & Wardwell LLP
Davis Polk & Wardwell LLP has a strong practice in New York that is consistently at the forefront of major trends in securities matters, both in federal and state court or before governmental bodies. Its client roster, which includes some of the biggest corporates in the US, gives it a prominent role in the defense of corporate issuers of securities, public company boards of directors, underwriters, broker-dealers, investors and other active market participants. Practice head James Rouhandeh typifies the firm’s broad experience, and he recently won in the Court of Appeals for the Third Circuit on behalf of international telecom company BT Group plc, which was facing a putative securities class action for securities fraud following an accounting scandal at its Italian subsidiary. Key partners Charles Duggan and Dana Seshens won a victory for underwriters in securing the dismissal of a case against Edison International and its subsidiary Southern California Edison concerning statements the companies had made about wildfire risk and safety practices. Edmund Polubinski won total victory for Lizhi Inc., the largest user-generated audio platform in China, in securities class actions related to the COVID-19 pandemic. The firm also has a presence in California where Neal Potischman in Menlo Park is the standout partner. He had a key role in the Edison matter.
James Rouhandeh; Dana Seshens; Paul Spagnoletti
Other key lawyers:
Charles Duggan; Edmund Polubinski; Neal Potischman
Gibson, Dunn & Crutcher LLP
Gibson, Dunn & Crutcher LLP’s securities litigation and SEC enforcement practice groups have a strong track record in defending high-stakes cases for large corporations, among them Marriott and HP. Brian Lutz in San Francisco is one of the lead partners, and he continues to be involved in some of the most high-profile cases in the market. A prime example is his work for Meta Platforms, formerly Facebook, in one of the biggest securities cases of all time. It arose from news in March 2018 that Cambridge Analytica had misappropriated Meta user data and then lied to Meta about deleting that data, leading plaintiffs are seeking billions of dollars in damages. The firm has secured three motions to dismiss, though derivative litigation is ongoing. Monica Loseman in Denver and Craig Varnen in Los Angeles are the other practice co-heads. Loseman is defending ViewRay, Inc., in a case that alleges the company made misleading statements or omissions relating to its reported backlog. Varnen is defending First American Financial Corp. in investor lawsuits that were filed in the wake of a data security incident. The case was ultimately dismissed.
Monica Loseman; Brian Lutz; Craig Varnen
Meta (previously known as Facebook)
El Pollo Loco (Special Litigation Committee)
VMware / Pivotal Software
Block Inc. (previously known as Square)
Kirkland & Ellis LLP
At Kirkland & Ellis LLP, ‘the depth and breadth of knowledge and experience is exceptional’. Clients remark that the firm is ‘highly strategic and tactical, achieving excellent and practical outcomes’. The team is led by Sandra Goldstein in New York and Mark Filip in Chicago. Goldstein is among the most successful securities litigators in the country, and she is currently handling more than twelve 10b-5 stock drop and derivative suits, as well as a substantial volume of M&A-related cases. The firm’s New York office is home to outstanding talent, including Stefan Atkinson who has been particularly prominent in the wave of SPAC-related cases. Atkinson and Goldstein achieved a major victory for Textron Inc., which was accused of deceiving the market about the growth and earnings prospects of Arctic Cat, a recreational vehicle business that it had acquired. The case settled favourably in 2022. Rachel Fritzler handles a broad range of matters for Fortune 500 companies, including antitrust and securities cases. She worked with Goldstein on numerous cases, among the defense of Honeywell International in a multibillion-dollar securities class action concerning the company’s asbestos-related liabilities. Matthew Solum is ‘highly responsive and even-keeled’. Joshua Rabinovitz in Washington DC acted for Boeing Company in a derivative suit arising out of Boeing’s 737 MAX jet aircraft’s October 2018 Lion Air Flight crash into the Java Sea and the March 2019 Ethiopian Flight crash minutes after takeoff.
Sandra Goldstein; Mark Filip
Other key lawyers:
Joshua Rabinovitz; Stefan Atkinson; Rachel Fritzler; Matthew Solum
‘The depth and breadth of knowledge and experience is exceptional.’
‘Josh Rabinovitz was the lead on our engagement. From our first conversation he worked to help me understand exactly what we were dealing with, outlining every possible twist and turn we could (and in our case did) face as the litigation developed. Though this was not unique, he even shared some questions to better understand the strengths and weaknesses of each of the firms we were interviewing. I particularly valued the fact that, when we engaged Kirkland with Josh as the lead, we got Josh as the lead. There was a team, but staffing was lean, and the engagement was handled efficiently.’
‘Highly strategic and tactical. Excellent and practical outcomes. Extremely responsive and understands how to effectively synthesize information for General Counsel, Board and C-suite.’
‘Matthew Solum is a stand-out. He effectively manages complex litigation with excellent outcomes while quickly and easily synthesizing information for management. He is highly responsive and even-keeled. Matt and his team are a delight to work with.’
3G Capital, Inc.
Bristol-Myers Squibb Company
Honeywell International Inc.
Six Flags Entertainment
Stable Road Capital
The Boeing Company
Latham & Watkins LLP
Latham & Watkins LLP has a national securities litigation practice, combining an intimate understanding of the needs of major corporate issuers, among them Meta and Twitter, with in-depth experience in every stage of the litigation process from initial negotiations through discovery, motion practice, trial and appeal. It is one of the very few firms to have achieved successful jury verdicts in securities litigation in recent history. The practice is led by Andrew Clubok in Washington DC, New York partner Blair Connelly, and up-and-coming partner Colleen Smith in San Diego. For Twitter, Clubok was part of a large team that is defending a series of class actions alleging that the company misappropriated contact information collected for security purposes, and in turn, used that information for advertising purposes without consent. He is also acting for Meta in a securities class action concerning a stockdrop allegedly caused by the impact of Apple’s iOS privacy changes on the company’s advertising business. Matthew Rawlinson in Silicon Valley frequently handles cases in the technology sector, among them a series of lawsuits for Coinbase Global, Inc. arising out of the company’s innovative direct listing in 2021. In New York, Jeff Hammer, who is acting for Farfetch Limited in a securities class action that followed a nearly 45% decline in the company’s stock price, and emerging talent Jason Hegt are standout partners.
Andrew Clubok; Blair Connelly; Colleen Smith
Other key lawyers:
Jeff Hammel; Jason Hegt; Matthew Rawlinson
Meta Platforms, Inc.
Larry Ellison, Founder, Chairman and CTO of Oracle, and Safra Catz, CEO of Oracle
Philip Morris International
UBS – Highland Capital
UBS – YES Arbitrations
Trial Counsel to Cantor Fitzgerald CEO Howard Lutnick, CF Group Management, and Cantor Fitzgerald
The Trade Desk
Paul, Weiss, Rifkind, Wharton & Garrison LLP
Paul, Weiss, Rifkind, Wharton & Garrison LLP in New York has a strong bench of experienced securities litigators who are frequently involved in the most high-profile matters in the market. Firm chair Brad Karp is one of many standout partners, and his work in defeating an attempt to assert derivative claims on behalf of public pension funds against asset managers hired by those funds, following a landmark victory in Kentucky State Court, will have significant repercussions. Co-chairs of securities litigation Susanna Buergel, Andrew Ehrlich and Audra Soloway are also among the most sought-after counsel for securities matters. Soloway and standout partner Daniel Kramer are representing Amazon.com, Inc., and various executives in a putative class action alleging false and misleading statements or omissions were made regarding the company’s interactions with third-party sellers in its marketplace. Buergel is Morgan Stanley’s lead counsel in private and regulatory securities matters. The list of key practitioners is extensive and includes Ken Gallo and Jane O’Brien, who are both involved in high-stakes matters for Citigroup; Theodore Wells, who is advising ExxonMobil on a securities case concerning climate change; and Gregory Laufer, who is a key advisor to Goldman Sachs. Richard Rosen retired from the practice.
Susanna Buergel, Andrew Ehrlich; Audra Soloway
Other key lawyers:
Brad Karp; Ken Gallo; Theodore Wells; Daniel Kramer; Jane O’Brien; Gregory Laufer
Shearman & Sterling LLP
The securities litigation practice at Shearman & Sterling LLP is ‘at the forefront of creative solutions’ and clients remark that it has ‘a deep bench of creative thinkers who often take a novel approach’. The firm is particularly active in matters involving the financial services and life sciences sectors, and its work for underwriting syndicates stands out from the crowd. Adam Hakki and Richard Schwed in New York lead the team along with Patrick Robbins in San Francisco. Hakki and Houston-based Mallory Brennan achieved a significant victory for Jefferies in a securities litigation related to the acquisition of Waite Holdings by special purpose acquisition company Landcadia Holdings – one of the first cases to arise from the SPAC boom. ‘His grasp of the law and his aplomb in advocating for clients is unmatched’, say clients of Daniel Laguardia in San Francisco, who worked with New York partner Daniel Lewis to secure a favourable settlement for underwriters of CannTrust Holdings. Up-and-coming partners Grace Lee in Washington DC and Agnès Dunogué in New York are pivotal to the practice, which continues to expand its roster of talent. Samuel Cooper in Houston joined from Paul Hastings LLP, and he is currently representing various entities in the Arbor Venture Fund family in a complex matter. Class action and internal investigations specialist Emily Westridge Black in Austin joined from Haynes and Boone, L.L.P., and former federal prosecutor Patrick Hein in San Francisco joined from the US Attorney’s Office in New York.
Adam Hakki; Richard Schwed; Patrick Robbins
Other key lawyers:
Daniel LaGuardia; Agnes Dunogue; Grace Lee; Patrick Hein; Emily Westridge Black; Samuel Cooper; Thad Behrens
‘Shearman’s securities litigation defense teams are at the forefront of creative solution to the resolution of securities related liability. They have a deep bench of creative thinkers who often approach matters with a novel approach.’
‘The stars of Shearman’s team are the associates and of counsel.’
‘Sherman & Sterling represented me in a series of multi-jurisdictional and multi-party legal actions. Despite there being numerous “cooks in the kitchen” from a legal standpoint, S&S navigated the litigations to superior outcomes in all jurisdictions and cases. Several of the other firms’ counsel commented that Sherman and Sterling counsel ran circles around the rest of the legal teams.’
‘Daniel LaGuardia of Sherman & Sterling is the most outstanding legal expert I have ever worked with in any firm. His grasp of the law and his aplomb in advocating for clients is unmatched in my experience.’
‘Very diligent, creative and smart.’
‘Thad Behrens in the Dallas office is an excellent securities litigation lawyer. I’d choose to work with him again in a heartbeat.’
Jefferies Group LLC
Altice USA and Altice Europe
Bank of America
Baker Hughes Inc.
Goldman Sachs & Co.
Microvast Holdings, Inc.
Pattern Energy Group
- Achieved a significant victory for our client Jefferies in a securities litigation related to the acquisition by Landcadia Holdings, Inc., a special purpose acquisition company (“SPAC”), of Waitr Holdings, Inc. On June 15, Magistrate Judge Kathleen Kay of the Western District of Louisiana issued a report and recommendation that the case be dismissed in its entirety.
- Achieved a victory in a putative securities class action in the Southern District of New York on behalf of a syndicate of underwriters who underwrote the January 2020 IPO of Phoenix Tree Holdings, Limited (“Phoenix Tree” or the “Company”), a residential rental company based in China and with operations in Wuhan. The Amended Complaint–which asserted claims for alleged violations of Sections 11, 12(a)(2) and 15 of the Securities Act and under Items 105 and 303 of SEC Regulation S-K–generally alleged that the offering documents failed to disclose, among other things, information about Phoenix Tree’s unique exposure to the fallout from the COVID-19 pandemic and that the Company had already been adversely affected by the coronavirus at the time of the IPO.
- Achieved a significant victory for our client Twitter in shareholder litigation relating to the acquisition of Twitter by Elon Musk. The case was scheduled for trial on July 5, and the shareholder plaintiff agreed to voluntarily dismiss the case a few days before pre-trial briefs were due. On June 27, Chancellor McCormick of the Delaware Court of Chancery signed a joint stipulation and order of voluntary dismissal, dismissing the case in its entirety.
Simpson Thacher & Bartlett LLP
At Simpson Thacher & Bartlett LLP, ‘the team has great industry experience, which puts them in a position to provide deep insight into risks and opportunities associated with securities litigation matters’. One client remarks that the lawyers are ‘very thorough and provide timely advice’ and benefit from ‘extensive experience and a sensitivity to clients’ practical needs and goals’. The firm has a stellar roster of clients, among them major corporates such as Alibaba Group and financial institutions such as Morgan Stanley. New York partners Jonathan Youngwood, who is ‘superior in securities litigation’, leads the practice with Lynn Neuner. Youngwood and senior counsel Janet Gochman are representing Twitter in a derivative action alleging breach of fiduciary duty by founder Jack Dorsey. Also in New York, Peter Kazanoff is ‘second to none in his experience, attention to detail and practical guidance’. He is currently handling a complex derivative action for KKR Biomet, which alleges that the company’s board knew it was facing regulatory compliance challenges concerning one of its facilities, but hid those facts from the market. Emerging partner talents Stephen Blake in Palo Alto (‘a very practical lawyer who is able to apply deep experience and substantive knowledge to very difficult problems’) and Craig Waldman in New York play pivotal roles in the practice. Palo Alto-based James Kreissman is now of counsel.
Lynn Neuner; Jonathan Youngwood
Other key lawyers:
Craig Waldman; Stephen Blake; James Kreissman; Peter Kazanoff; Janet Gochman
‘The team has great industry experience, which puts them in a position to provide deep insight into risks and opportunities associated with securities litigation matters. They are very thorough and provide timely advice.’
‘Peter Kazanoff is second to none in his experience, attention to detail and practical guidance’
‘Extensive experience and a sensitivity to clients’ practical needs and goals.’
‘I have had very good experiences with Jonathan Youngwood and Stephen Blake. They are both very practical lawyers who are able to apply deep experience and substantive knowledge to very difficult problems and find the best possible outcomes, even when no good options are apparent.’
Alibaba Group Holding Ltd
Bausch Healthcare (f/k/a Valeant Pharmaceuticals)
The Blackstone Group, LP
Deutsche Bank AG
J.P. Morgan Chase & Co.
Kohlberg Kravis Roberts & Co.
Micron Technology, Inc.
Morgan Stanley & Co. Inc.
SeaWorld Parks & Entertainment, Inc.
TaskUs Holdings, Inc.
The Toronto-Dominion Bank
Workhorse Board of Directors
- Represented Twitter in successfully resolving multiple securities class actions and derivative lawsuits in Northern District of California and San Mateo Superior Court.
- Represented American Electric Power Company and Directors and Officers in dismissal of shareholder derivative case.
- Represented Valeant Pharmaceuticals (n/k/a Bausch Health Companies) in obtaining dismissal in multiple securities fraud suits.
Skadden, Arps, Slate, Meagher & Flom LLP
Skadden, Arps, Slate, Meagher & Flom LLP is widely acknowledged as one of the leading firms in securities litigation, in no small part because of its stellar corporate client base. In 2021, the firm secured 36 favorable securities class action resolutions for defendants, and that trend continued strongly into 2022. In that year, the firm defended more federal securities actions and federal securities class actions than any other firm. In New York, head of the national securities litigation practice Jay Kasner and co-deputy heads Scott Musoff and Susan Saltzstein are regarded as standout practitioners by peers and clients alike. Kasner and Musoff acted for BMW AG in a securities class action alleging that the company’s sales practices in the US had inflated BMW NA’s sales figures. The case was settled on favorable terms. Saltzstein is acting for Unilever Plc in a putative securities class action, asserting claims based on alleged misrepresentations relating to a purported July 2020 “resolution” by the Ben & Jerry’s Board to end sales in areas that the Board considered to be Palestinian territories illegally occupied by Israel. Noelle Reed in Houston secured the dismissal of a putative federal securities class action against ExxonMobil Corporation, which was accused of making misleading representations and omissions related to its operations in the Permian Basin.
Jay Kasner; Scott Musoff; Susan Saltzstein
Other key lawyers:
Weil, Gotshal & Manges LLP
Weil, Gotshal & Manges LLP in New York has ‘a dedicated team specializing solely in securities litigation’ and each team member ‘drives exceptional results for their clients’. The firm is highly regarded for its work on behalf of corporate issuers and private equity clients. John Neuwirth and Caroline Zalka are co-heads of the securities litigation practice. Neuwirth and Joshua Amsel are ‘recognized as national leaders in this area, and are at the top of the list for securities cases no matter how big or complicated’ . They advised Churchill Capital Corp. III on a case arising from an $11bn deSPAC transaction. Zalka and Jonathan Polkes are ‘terrific commercial litigators, with a strong strategic sensibility’ . They worked with the ‘consistently knowledgeable, practical and accessible’ Stacy Nettleton to secure a complete victory for Morgan Stanley in a $4bn breach of fiduciary duty dispute. Evert Christensen is another emerging talent in the New York office. Robert Stern in Washington DC, who joined from Orrick, Herrington & Sutcliffe LLP, is a nationally recognized first-chair trial lawyer and highly rated securities and enforcement attorney. Clients remark that he ‘provides excellent, strategic and candid counsel and a great advocate’ and is ‘a good man to be on your side in a difficult situation’ .
John Neuwirth; Caroline Zalka
Other key lawyers:
Jonathan Polkes; Robert Stern; Stacy Nettleton; Joshua Amsel
‘Jonathan Polkes and Caroline Zalka are terrific commercial litigators, with a strong strategic sensibility.’
‘Stacy Nettleton is great; she is consistently knowledgeable, practical and accessible and is able to work and collaborate well with others.’
‘I work primarily with Rob Stern. Rob provides excellent, strategic and candid counsel and a great advocate. He brings additional resources to assist where necessary who are equally skilled and competent in their relevant areas. He is always available and incredibly supportive in the most difficult of times. A good man to be on your side in a difficult situation.’
‘Weil has a dedicated team specializing solely in securities litigation. As a result, this is the only thing their litigators focus on and, by definition, they are experts in this field and the team drives exceptional results for their clients.’
‘John Neuwirth and Josh Amsel are rightly recognized as national leaders in this area, and are at the top of the list in terms of recommended litigators for securities cases no matter how big or complicated.’
‘The team was accessible, gave practical advise, gave good context for the specific type of litigation and considerations when deciding how to proceed. Clearly very well versed team in shareholder litigation matters.’
‘The team is superbly qualified in terms of subject matter knowledge, intelligence, writing ability and argument persuasion. They excel at practical advice and are unfailingly responsive. They have a wealth of relevant experience and a sterling reputation.’
‘John Neuwirth stands out for his core practical lawyering skills – timely advice that is neither overworked nor off-the-cuff, strong argument development and issue spotting, top-notch writing skills and excellent “on the feet” argument skills. He is responsive and available, and very pragmatic.’
Churchill Capital Corp. III
Brookfield Asset Management
Warner Brothers Discovery
Walgreens Boots Alliance
Sleep Number Corp.
Marathon Digital Holdings
Elanco Animal Health
ATI Physical Therapy
- Secured a decisive win for Elanco Animal Health in a securities fraud class action pending in the Southern District of Indiana, which granted defendants’ motion to dismiss all claims asserted against them.
- Secured a victory in a putative securities class action brought against Ascena Retail Group and certain of its executives when the District of New Jersey granted the defendants’ motion to dismiss all claims
- Represented Churchill Capital Corp. III in cutting-edge stockholder litigation in Delaware Chancery Court that will provide important guidance for the future of SPAC governance.
Baker McKenzie has built a strong practice in its Los Angeles office since hiring vastly experienced innovator and litigator Perrie Weiner in 2019. It now handles some of the most high-profile regulatory actions and securities fraud cases in the US. Its presence in California makes it a natural choice for defendants in the biopharma, technology and media, cryptocurrency, financial services and hedge fund sectors, and the firm also has a strong clients base in the consumer goods and retail industries. The team is ‘extremely knowledgeable but above all else very practical, commercial and pragmatic’, according to clients, who praise the firm’s ‘deep expertise and the ability to leverage a broad range of specialists’. The practice, which is active in prominent areas such as SPAC and cryptocurrency litigation, continues to grow with hires including class action specialist Nancy Nguyen Sims and a team of associates from DLA Piper LLP (US). Weiner, key partner Edward Totino and of counsel Ben Turner secured the dismissal of a putative class action against investor Mark Groussman in Takata v. Riot Blockchain, which alleged manipulative trading to artificially inflate the company’s stock price. Newly promoted partner Aaron Goodman in LA and Peter Tomczak in Chicago also play key roles in the practice.
Other key lawyers:
Edward Totino; Ben Turner; Aaron Goodman; Nancy Nguyen Sims; Peter Tomczak
‘Extremely knowledgeable but above all else very practical, commercial and pragmatic which can be very unusual for magic circle firms.’
‘Perrie Weiner is outstanding in terms of their knowledge and expertise as well as being very commercial and pragmatic in his approach.’
‘The Baker McKenzie team has deep expertise and the ability to leverage a broad range of specialists within the firm. I am consistently impressed by how deep the expertise runs of the partners that I deal with. They are experts in security litigation, foreign investment, the CFIUS process, and dealing with the U.S. Government processes related to national security and foreign ownership.’
Andrew Thorburn and World Medical Network, Inc.
Ladenburg Thalmann & Company, Inc.
Ms. Vicky Schiff (Partial owner of Ready Capital)
William Brown (Former CEO of Matterport, Inc.)
- Secured a significant win on a jurisdictional challenge in the Central District of California, filed against a London-based client as part of a multinational / multijurisdictional effort to attach the assets of a Geneva trust worth approx. USD 1 billion.
- Secured the dismissal of a putative class action against investor Mark Groussman in Takata v. Riot Blockchain on April 8, 2022. The operative complaint alleged that Groussman and other Defendants, acting as members of an investor-control group, amassed a controlling interest in publicly-traded Riot Blockchain.
- Defending a purported stockholder filed a putative class action complaint against SRAC, Sponsor, Brian Kabot, Juan Manuel Quiroga, James Norris, James Hofmockel (the “Stable Road Defendants”), Momentus, Dawn Harms, Fred Kennedy (the “Momentus Defendants”) and Mikhail Kokorich in the United States District Court for the Central District of California.
Cahill Gordon & Reindel LLP
Cahill Gordon & Reindel LLP in New York is known for ‘great collaborative effort, great attention to detail and the ability to implement litigation strategy’. Chair of litigation Herbert Washer and lead securities litigation partner David Januszewksi are the standout partners. Up-and-coming partners Jason Hall and Sheila Ramesh are the engine room of the practice and lead much of the day-to-day work for the firm’s two most significant clients, Credit Suisse and Deutsche Bank. All four partners were part of a large team that defended Credit Suisse in cases concerning the alleged manipulation of global foreign exchange markets, which included a class action litigation in New York. After years of litigation, a jury granted the bank complete and unequivocal victory. Washer and Januszewski are also acting for six underwriters, including Morgan Stanley, in Luckin Coffee Shareholder Litigation, which alleges inaccuracy in the Chinese company’s financial and performance metrics in advance of its issuance of American Depositary Shares in 2019.
Herbert Washer; David Januszewski
Other key lawyers:
Jason Hall; Sheila Ramesh
‘Great collaborative effort. Very knowledgeable.’
‘Great attention to detail and ability to implement litigation strategy.’
KeyBanc Capital Markets
Needham & Co.
China International Capital Corporation Hong Kong Securities
Haitong International Securities Company
Goldman Sachs (Asia)
Trevor Milton (billionaire founder and former chairman of Nikola Corporation)
- Representing Credit Suisse and its subsidiaries in all U.S. litigation relating to alleged manipulation of the global foreign exchange (FX) markets, including class action litigation in New York federal court.
- Representing six underwriters (Credit Suisse Securities (USA) LLC, Morgan Stanley & Co., China International Capital Corp. Hong Kong, Haitong International Securities Co., Keybanc Capital Markets Inc. and Needham & Co.) in multiple putative class action complaints as well as individual (non-class) actions filed in federal and state court related to public offerings of American Depositary Shares (ADS) of Luckin Coffee Inc., a Chinese coffee company.
- Successfully secured the dismissal of the underwriters of Chinese firm GSX, a digital platform in the education arena, where once again (as in both the Luckin and 9F matters noted above), underwriter disclosure is at issue.
Cooley LLP is ‘very creative in how to approach defense’, according to clients, and is a key advisor to the life sciences and technology industries on securities litigation. Practice head Patrick Gibbs and John Dwyer, both based out of Palo Alto, are representing NVIDIA in a case arising from the company’s $25bn loss in market capitalisation in 2018. Koji Fukumura in San Diego, who frequently acts for some of California’s largest corporations, secured the dismissal dismiss of a federal securities class action for Qualcomm related to Broadcom, Inc.’s $105bn dollar failed hostile takeover bid, with the court finding that plaintiffs had failed to adequately plead two essential elements of a securities fraud claim—scienter and loss causation. Luke Cadigan in Boston, who leads the business litigation department for the East Coast, worked with Fukumura in the defense of Inovio Pharmaceuticals, which is accused defrauding investors about a proposed coronavirus vaccine. Aric Wu in New York, (who is ‘outstanding, very creative and thinks outside the box’) and Michael Tu in LA are also key members of the practice.
Other key lawyers:
Koji Fukumura; John Dwyer; Luke Cadigan; Aric Wu; Michael Tu
‘The team assisted us with a litigation matter and was very creative in how to approach defense.’
‘Aric Wu is outstanding, very creative and thinks outside the box.’
CenturyLink (nka Lumen Technologies)
Cloud Linux Software and Cloud Linux Holdings
Meredith (nka Dotdash Meredith)
SPOSC Investment Holdings
The Honest Co
- Scored a win on behalf of Stitch Fix when the Ninth Circuit affirmed the lower court’s complete dismissal of a putative class action alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
- Representing NVIDIA in a long-running investor class action in the Northern District of California arising from a $25 billion loss in NVIDIA’s market capitalization over a three-month period in late 2018.
- Represented CenturyLink (now known as Lumen Technologies) for more than five years in a complex multidistrict litigation proceeding in the District of Minnesota, including consumer class actions, a securities class action and numerous shareholder derivative actions.
Debevoise & Plimpton LLP
Debevoise & Plimpton LLP is ‘very knowledgeable in securities litigation matters, as well as collaborative, and creative in advocating’. The firm has a strong track record of success in representing corporations and their officers and directors in challenging, high-stakes securities litigation in federal and state courts around the country, including those involving simultaneous stock drop class actions, derivative actions alleging breaches of fiduciary duty, and related regulatory investigations by federal and state authorities. Maeve O’Connor in New York (who is ‘excellent in this field’) and Jonathan Tuttle in Washington DC jointly lead the practice. O’Connor and up-and-coming New York partner Susan Reagan Gittes acted for a special litigation committee of FirstEnergy Corp. in derivative actions arising from a bribery scheme in which former senior executives of FirstEnergy allegedly bribed elected officials in Ohio. O’Connor and emerging partner talent Elliot Greenfield in New York are key advisors to insurance company MetLife in a class action alleging that the company had inadequate internal controls over financial reporting. Tuttle focuses predominantly on regulatory enforcement matters involving the SEC, DOJ, FINRA and others.
Maeve O’Connor; Jonathan Tuttle
Other key lawyers:
Elliot Greenfield; Susan Reagan Gittes
‘They are very knowledgeable in securities litigation matters, collaborative, and creative in advocating.’
‘My dealings primarily were with Maeve O’Connor, who is excellent in this field.’
Clayton Dubilier & Rice LLC
James River Holdings
Prudential Financial, Inc.
Ripple Labs, Inc.
Robinhood Markets, Inc.
Special Committee of the Board of Directors of Match, Inc.
The Dolan Family, controlling stockholders and members of the Board of Directors of Madison Square Garden Entertainment and MSG Networks
The We Company/WeWork
Tribune Media Company
Universal Navigation Inc. d/b/a Uniswap Labs
The Vanguard Group
Warner Brothers Discovery/Discovery
Winged Foot Golf Club and the Board of Directors of the Winged Foot Holding Corporation
The trial, investigations and securities practice at Dechert LLP has a deep bench of partners who represent a diverse range of clients, among them leading mutual funds and corporate issuers of securities. Practice head David Kistenbroker and key partner Joni Jacobsen, who work out of both the Chicago and New York offices, are highly praised by peers. They are currently handling a class action against Antares Pharma, Inc. that alleges the company provided insufficient information to the FDA in support of testosterone replacement therapy Xyosted and subsequently overstated the drug’s approval prospects, rendering public statements false and misleading. Regulatory enforcement specialist Michael Doluisio in Philadelphia and New York litigation partner Andrew Levander are acting for AmerisourceBergen Corp. in a shareholder derivative suit filed in Delaware Chancery Court accusing the company breaching its fiduciary duties by failing to oversee compliance with federal regulations concerning distribution of controlled substances and their contributing to the opioid epidemic. Matthew Larrabee, Andrew Levander and Linda Goldstein are the key practitioners in New York. In San Francisco, corporate governance litigation partner Richard Horvath and securities and antitrust partner Josh Hess are the main contacts.
Other key lawyers:
Joni Jacobsen; Michael Doluisio; Josh Hess; Andrew Levander; Richard Horvath; Linda Goldstein
AIG Financial Products Corp.
Antares Pharma, Inc., Peter Graham, Robert F. Apple, Fred M. Powell, Leonard S. Jacob, Thomas J. Garrity, Anton G. Gueth, Jacques Gonella, Robert P. Roche, Jr.
Charles Schwab & Co. (“Schwab”)
CorMedix Inc. and certain current and former officers and directors
Former CFO Greg Rush of Syneos Health
Leslie Moonves, former Chairman and CEO of CBS Corporation
Mallinckrodt Public Limited Company and certain officers and directors
Plex Systems, Inc. / Plex Systems Holdings, Inc.
PureCycle Technologies, Inc. and certain officers
Ronald Winowiecki, former Chief Financial Officer of Perrigo Company plc
Special Litigation Committee of Exelon
- Represented Mallinkrodt, a biopharmaceutical company that researches and develops drugs for the treatment of various ailments, in Strougo v. Mallinckrodt Public Limited Company et al., a purported class action against the Company and certain officers and directors, alleging that the Defendants made false and/or misleading statements or omissions about the drug Acthar’s safety and ability to treat ALS.
- Advising AmerisourceBergen Corp. in connection with a derivative suit filed against current and former members of ABC’s board of directors by putative shareholder CCAR Investments, Inc. in the U.S. District Court for the District of Delaware.
- Represented Charles Schwab & Co. in class action litigation brought in the Northern District of California that alleged breach of fiduciary duty and contract claims against it and its affiliated donor-advised fund, Schwab Charitable.
Freshfields Bruckhaus Deringer LLP
Freshfields Bruckhaus Deringer LLP in New York continues to blaze a trail for Magic Circle firm in US securities litigation, thanks to its ‘whip-smart, creative lawyers who are very focused on getting the best result for the client’. Indeed, clients praise the firm’s ‘extraordinary creativity, experience and domain expertise in the fields of securities litigation and corporate governance litigation’. Meredith Kotler and Mary Eaton are co-heads of the securities and shareholder litigation practice, which was founded only three years ago, but is already at the forefront of the market. Kotler and Eaton successfully represented AstraZeneca, its CEO, and several other executives in a putative securities class action challenging disclosures regarding its COVID-19 vaccine, including alleged problems with its clinical trials and prospects for FDA emergency use authorization. Boris Feldman in Silicon Valley, who is noted for ‘a very celebrated career as a brilliant and creative lawyer’, gives the firm a strong presence on the West Coast and in the technology sector. Among his clients is Google’s parent company Alphabet. In the same office, emerging partner talent Doru Gavril is a key advisor to the technology and electric vehicles industries. Together, they secured a complete victory in a putative securities class action for image-sharing platform Pinterest.
Meredith Kotler; Mary Eaton
Other key lawyers:
Boris Feldman; Doru Gavril
‘Whip-smart, creative lawyers. Very focused on getting the best result for the client.’
‘Meredith Kotler and Mary Eaton are outstanding.’
‘The team takes a great holistic and balanced approach to our issues and needs, and do it with a calm demeanor that instils trust. The team listens carefully, forms an opinion/plan of action, listens to feedback, rightfully debates the pros/cons of the feedback, and arrives at a plan that has buy-in and is ready to execute.’
‘I feel that I can always pick up the phone and give Doru Gavril a call (and he will answer right away). I trust his judgement and know that he will guide us to a solution.’
‘Extraordinary creativity, experience and domain expertise in the fields of securities litigation and corporate governance litigation. A knack for working difficult cases.’
‘Boris Feldman is one of the leading gurus in the field of securities litigation. He is smart, tenacious, creative, and pragmatic. That’s a difficult combination to beat in this space. His partner, Doru Gavril, is a younger version of Boris. You double them up, and you have a very effective team.’
3M Company and several current and former officers and directors
ACM Research, Inc., and several offices
Alphabet, Inc. and its Board of Directors
Amarin Corporation PLC and several officers
APYXMedical Corporation, CEO Charles D. Goodwin, and CFO Tara Semb
AstraZeneca PLC, its CEO, and several other executives
Carlotz, its CEO, its CFO, and its Board of Directors
Centessa Pharmaceuticals and its Board of Directors
Citigroup Inc. and the Independent Directors of the Citigroup Board
J.P. Morgan Securities LLC and other financial institutions in the underwriting syndicate for InnovAge
Joseph Grundfest (former SEC Commissioner and current Stanford Law Professor)
Li-Cycle and several officers
Lightning eMotors, board and executives
Lilium N.V., its CEO, and its CFO
Pinterest, Inc. and several officers
Rivian Automotive, Inc., its CEO, its CFO, and its Board of Directors
Roblox Corporation and its Board of Directors
Tyson Foods, its current and former CEO, its CFO, and its Board of Directors
- Successfully represented AstraZeneca, its CEO, and several other executives in a putative securities class action filed in the Southern District of New York, challenging disclosures regarding AstraZeneca’s COVID-19 vaccine, including alleged problems with its clinical trials and prospects for FDA emergency use authorization. Dismissal with prejudice was granted on Defendants’ first motion to dismiss, without leave to amend.
- Defeated appointment of any lead plaintiff in a putative securities class action against Tyson Foods and several officers, which alleged that our clients had made false and misleading statements between March 13, 2020 and November 16, 2020 concerning the workplace safety policies and procedures implemented in Tyson’s meatpacking facilities in response to the COVID-19 pandemic. This leaves any plaintiff only with the option to pursue individual claims.
- Secured a complete victory in a putative securities class action for globally recognized image-sharing platform Pinterest, its CEO, and its CFO in the Northern District of California.
Fried, Frank, Harris, Shriver & Jacobson LLP
Fried, Frank, Harris, Shriver & Jacobson LLP is known for a deep bench of litigators who are ‘experienced, deliberate, skilful negotiators and brilliant tacticians’. One client remarks that ‘the team is extremely practical, commercial and a true guide to business leaders, clearly explaining the risks so that all stakeholders can understand them’. New York partners Scott Luftglass, who is ‘an exceptional partner – proactive, industrious, experienced and always available’ and Peter Simmons lead the 14-partner securities and shareholder litigation practice. Luftglass is secured a favourable settlement for Seritage Growth Properties in a complex litigation with 35 total causes of action against 53 defendants connected with the sale of real estate properties in 2015. James Wareham in Washington DC recently represented Irish entity Perrigo in a securities class action litigation for a class of purchasers of Perigee shares on US exchanges in connection with late 2018 disclosures related to Irish tax officials’ audit of a 2013 intellectual property sale. Approval of the final settlement was granted in 2022. Israel David left the firm in 2022 to start his own venture. New York partner and former US Attorney Geoffrey Berman also plays a key role in the practice.
Scott Luftglass; Peter Simmons
Other key lawyers:
James Wareham; Geoffrey Berman
‘Experienced, deliberate, skilful negotiators and brilliant tacticians.’
‘Scott Luftglass has been an exceptional partner to our company – proactive, industrious, experienced and always available.’
‘The team is extremely practical, commercial and a true guide to business leaders. They clearly explain the risks so that all stakeholders can understand them and then provide various recommendations. They couldn’t be more user friendly while also being extremely smart and constructive in the boardroom.’
Seritage Growth Properties
Apollo Global Management
Evoqua Water Technologies
JPMorgan Securities LLC
Gregory Kelly, Former Representative Director of Nissan Motor Co.
- Counsel to Under Armour, Inc. and members of its Board of Directors in connection with multiple securities class action and derivative litigation matters.
- Counsel to Perrigo in connection with multiple securities litigation, commercial arbitration, and associated advisory matters relating to the company’s strategic acquisitions and earnings announcements.
- Represented Seritage Growth Properties in connection with an extremely favorable settlement of a four-year long fraudulent conveyance litigation involving the Sears bankruptcy.
Goodwin is known as one of the leading life sciences firms in the US, as well as a prominent player in matters concerning technology companies and REITs. The firm is handling a growing volume of class actions, derivative cases and SEC investigations, particularly for tech companies. Clients note that the firm’s ‘judgement, subject knowledge and guidance is outstanding’ and are ‘impressed with their technical insights combined with practical experience’. Deborah Birnbach leads the practice from Boston, where Adam Slutsky and Caroline Bullerjahn are among the standout partners. Birnback and Bullerjahn obtained full dismissal of a securities class action against biopharma company Alkermes plc, which was accused of making misstatements and omissions regarding the development program for a clinical stage drug for a major depressive disorder. Daniel Roeser in New York is representing underwriting syndicates in a putative securities class action filed in Florida federal court against Axogen. Key partner Brian Pastuszenski retired, but Jonathan Shapiro in San Francisco from Baker Botts L.L.P. (who is ‘a highly capable attorney with a dynamic and empathetic personality’) reinforces the firm’s stronghold in its key sectors. Jonathan Hecht in Washington DC joined from the SEC and is ‘a transformative presence’ in enforcement matters.
Other key lawyers:
Jonathan Shapiro; Daniel Roeser; Richard Strassberg; Adam Slutsky; Caroline Bullerjahn
‘Jonathan Shapiro is a highly capable attorney with a dynamic and empathetic personality who always finds time for his clients, his associates, and his experts. He is confident about his knowledge of the law, is as procedurally adept as the super lawyers in New York, with whom I worked for 20 and more years ago. He understands better than anybody the strengths and weaknesses of his case, appropriately manages expectations. Most importantly, while he keeps up with every aspect of what’s going on in the litigation that he is managing, he does not micromanage.’
‘I have never seen any lawyer, who has been shown capable of empowering the people who work for him. It is a testament to Jonathan Shapiro that the two counsel with whom he worked on his biggest case made partner in the same year… two new partners among 18 in a firm of over 700 attorneys. I have not worked with the rest of the group, but as it’s lead in San Francisco, if Jonathan represents the Goodwin way, then I am confident the group is as close to peerless as one could be.’
‘Goodwin’s judgement, subject knowledge and guidance is outstanding. As a long time client, I have benefited from the firm’s broad commercial knowledge and relationships. Recent exposure to their litigation practice has reinforced that view and impressed with their technical insights combined with practical experience. The involvement of partners as needed for specific practice areas is truly impressive, and the teams work seamlessly.’
‘Dan Roeser is our litigation partner and excels in focusing on the specific matter at hand. He is particularly helpful in explaining the legal implications of the detailed steps and his advice is relentessly accurate.’
Cedar Realty Trust, Inc., Cedar Realty Trust Partnership, L.P., Bruce Schanzer, Gregg Gonsalves, Abe Eisenstat, Sabrina Kanner, Darcy Morris, Richard Ross, Sharon Stern, Steven G. Ross
BNP Paribas S.A. and BNP Paribas Securities Corp. (BNPP)
Axogen, Inc. Syndicates of Underwriters
Athena Art Finance Corp.
The Co-Founders and Co-Chairmen of Wayfair Inc.
BELLUS Health, Inc.
Cognizant Technology Solutions Corporation
Goldman Sachs (Asia)
- Secured a full dismissal for Alkermes PLC, a biopharmaceutical company that focuses on central nervous system diseases, of a putative shareholder class action. The litigation concerned alleged Section 10(b) and 20(a) violations, spanning a four-year class period, based on the Defendants’ purported failure to disclose certain clinical trial-design “concerns” voiced to the Company by FDA throughout the relevant drug’s development. The Court dismissed the complaint with prejudice for failure to plead scienter.
- Secured complete victory for BELLUS Health Inc., a clinical stage biopharmaceutical company, and certain of its executives in securities class action litigation pending in federal district court in New York. The amended class action complaint alleged claims under the Securities Act of 1933 and the Securities Exchange Act of 1934 for alleged misleading statements regarding BELLUS’s Phase 2 clinical trial for BLU-5937, a therapeutic product for the treatment of refractory chronic cough and other hypersensitization-related disorders.
- Defeated two motions for preliminary injunction for Cedar, a publicly traded REIT, seeking to stop a $1.2B series of transactions from closing.
Jones Day is ‘a top-notch firm that delivers results’. It has a large securities litigation and SEC enforcement practice that spans the US, with offices across the country and a deep bench of talent. Henry Klehm in New York leads the practice and brings decades of experience to the defense of boards, corporations, and financial institutions. Cleveland-based Geoffrey Ritts plays a central role in the practice, and he secured the dismissal of a class action for Conagra Brands, Inc., in which it is accused of making misleadingly optimistic statements about the expected results of Conagra’s merger with Pinnacle Foods. John Tang in San Francisco is ‘an excellent and intelligent litigator, but he is also extremely skilled in understanding the business realities of litigation’. He is currently defending represents Wells Fargo in a class action arising from alleged risky commercial lending practices, including deficient underwriting practices and inflation of borrower income and expected cash flows. The ‘efficient, level-headed and calm’ Mike McConnell and returning partner Walter Davis, who served as the first judge in the state of Georgia’s newly established Business Court, are the key attorneys in Atlanta.
Other key lawyers:
John Tang; Geoffrey Ritts; Mike McConnell; Mark Rasmussen; Walt Davis
‘Jones Day is a top-notch firm that delivers results.’
‘John Tang is one of the best attorneys (across all practice areas) I have worked with in my career. He is not only an excellent and intelligent litigator, but he is also extremely skilled in understanding the business realities of litigation. For example, in defending a class action securities case, he frequently made references to potential “off-ramps.” This was very refreshing as some litigators just see litigation as a process, but John has a very strategic and business-centered mindset. John also met with many business leaders and was able to explain complex legal issues into simple terms.’
‘I’ve worked mostly with Mark Rasmussen and Mike McConnell. Both are exceptional. Their speciality area knowledge is very deep. They are efficient in their approaches. I am always pleased with their efforts. Most of all, they are very level headed and calm about the work. In dealing with me and other executives at our company, both are great at lowering the temperature. That has not always been my experience with other firms of similar size.’
United States Steel Corporation
Goodyear Tire & Rubber Co.
U.S. Bank, N.A.
Wells Fargo Bank, N.A.
Brookdale Senior Living
Scotts Miracle-Gro Company
Diebold Nixdorf Inc.
- In May 2022, the U.S. Court of Appeals for the Seventh Circuit affirmed the dismissal of a securities class action brought against client Conagra Brands, Inc.
- Representing FirstEnergy in securities class action and shareholder derivative litigation relating to a public-corruption investigation concerning the Ohio legislature.
- Successfully defended the directors of GrafTech International, Ltd. in shareholder litigation challenging GrafTech’s USD 250 million buyback of stock from its then-controlling stockholder.
King & Spalding LLP
King & Spalding LLP climbs the ranking this year having greatly increased its bench strength and expanded its docket of high-stakes securities cases. The firm has 15 partners focused on this area of law across ten domestic offices, giving it one of the most geographically diverse practices in the US. Jessica Corley leads the firm’s trial and global disputes practice from Atlanta, where Warren Pope and Michael Smith are standout securities litigators. Corley and Pope secured the dismissal of a securities class action for ADTRAN, Inc. that alleged the company made false and misleading statements related to the company’s business prospects and financial disclosures. A major recruitment drive in 2022 brought in key partner talent in New York including Mark Kirsch and Randy Mastro from Gibson, Dunn & Crutcher LLP, as well as three partners in Miami from Akerman LLP. Kirsch is acting for Rio Tinto Group in a putative class action and a suit brought by the SEC alleging securities law violations arise in connection with a $4bn write-down the company took relating to a mining project in Mozambique. Paul Bessette in Austin, who is defending SolarWinds Corporation in a putative class action alleging it made false and misleading statements about its cybersecurity practices, and Richard Marooney in New York also play key roles in the practice.
Other key lawyers:
Warren Pope; Michael Smith; Mike Pauze; Richard Marooney; Paul Besette; Randy Mastro
AAC Holdings, Inc.
Acadia Healthcare Company, Inc.
CBL & Associates Properties, Inc.
Digital Turbine, Inc.
Evolent Health, Inc.
FleetCor Technologies, Inc.
Floor & Decor Holdings, Inc.
Former Directors of Yuma Energy, Inc., Will Mesdag & Chris Teets
Global Brokerage, Inc. (formerly FXCM, Inc.)
Jason New and William Parrett
Marc Schessel, CEO and founder of SCWorx
Medallion Financial Corp., Andrew Murstein
Merit Medical, Inc. and certain executive officers
Net Element, Inc., n/k/a Mullen Automotive, Inc.
Newell Brands, Inc.
OPKO Health, Inc.
Rio Tinto Group
Shattuck Labs, Inc.
The Aaron’s Company, Inc.
The GEO Group, Inc.
The RealReal, Inc.
Tivity Health, Inc.
Tractor Supply Company
True Link Financial Advisors
U.S. Xpress, Inc.
- Representing Capital One Financial Corporation and certain of its officers in putative securities class action litigation arising in connection with the data security incident announced on July 29, 2019. The highly publicized data breach incident is significant due to its vast impact on over 100 million individuals and due to the involvement of a hack of cloud-based data apparently executed by a former employee of the cloud storage vendor.
- Representing Rio Tinto in a suit brought by the SEC against it alleging Section 10(b) fraud and other securities law violations. (SEC. v. Rio Tinto et al.) The claims arise in connection with a $4 billion write-down Rio Tinto took relating to a massive mining project in Mozambique.
- Defending SolarWinds Corporation and its Chief Information Security Officer in a putative class action alleging claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The lawsuit was filed in the wake of a cutting-edge cyberattack, an unprecedented federal government data breach described as “the largest and most sophisticated” cyberoperation ever that sought to compromise systems of U.S. Government and Fortune 500 SolarWinds clients using the company’s Orion software.
Milbank has a deep bench of experienced partners in New York, whose track record in some of the most influential, high-stakes, and high-profile cases ever brought under federal and state securities laws sees the firm climb the ranking. The firm frequently acts for issuers, underwriters, banks, broker-dealers, investment advisers, accounting firms, and individuals in securities class actions and derivative suits. Global head of litigation and arbitration George Canellos and practice group leader Daniel Perry oversee the firm’s securities litigation work, for which Sean Murphy is a standout partner. Murphy has tried most of the private securities cases to go to trial under the Investment Company Act of 1940 Act in the last 20 years, winning all of them. Firm chair Scott Edelman handles high-stakes litigation in diverse areas of law, including securities, commercial and white collar. David Gelfand and up-and-coming partners Jed Schwartz and Robert Hora are also key partners in the practice. Edelman, Gelfand and Hora are acting for AXA Equitable Life Insurance Company in eight cases in federal and state courts, including putative class actions, that challenge the company’s 2016 increase in the cost of insurance rates on a block of universal life insurance policies.
George Canellos; Daniel Perry
Other key lawyers:
Sean Murphy; Jed Schwartz; Robert Hora; David Gelfand
NFP Retirement, Inc. (“NFP”)
Clover Health Investments, Corp.
Deloitte & Touche, LLP and Deloitte LLP
A group of underwriters of NIO, Inc.
American Century Investment Management, Inc.
AXA Equitable Life Insurance Company
- Representing Talkspace and a number of other entities and individuals who have been sued in connection with Talkspace’s de-SPAC transaction in the litigation captioned as Baron v. Talkspace, Inc., Case No. 22-cv-00163, currently pending in the United States District Court for the Southern District of New York.
- Representing Russell Investments Trust Company in connection with two recently filed class action lawsuits claiming that Russell breached its fiduciary duties under the federal securities laws in connection with its role as a fiduciary investment adviser to pension plans for employees of Caesars Entertainment and Royal Caribbean Cruise Lines.
- Represented Putnam in its role as collateral manager of a collateralized debt obligation (“CDO”) with assets of approximately $1.5 billion, known as the “Pyxis” CDO.
Morgan, Lewis & Bockius LLP
Morgan, Lewis & Bockius LLP is highly regarded not only for its work in issuer-based class actions, but also high-profile regulatory matters before the SEC and the DOJ. Timothy Burke in Boston and Philadelphia-based partners Jeff Boujoukos and Kelly Gibson lead the securities enforcement and litigation practice. Gibson, who joined in 2022 from the SEC, is a key advisor on regulatory enforcement matters. Charlene Shimada in San Francisco is the firm’s standout partner for securities litigation defense, corporate governance, class actions, and complex commercial litigation. She is representing JP Morgan Securities LLC and nine other underwriters in a case arising out of Bloom Energy’s $270m IPO, in which plaintiffs allege that the offering documents contained false or misleading statements about the company’s products and operations. She has already narrowed the case by securing dismissals of restatement-related securities claims. Jordan Hershman in Boston is the lead litigation partner in the practice, and he recently secured the dismissal of a derivative suit against Synchronoss Technologies, Inc., which was accused of breaching its fiduciary duties in its sale of a business line. Also noteworthy is Michael Kichline in Philadelphia.
Timothy Burke; Jeff Boujoukos; Kelly Gibson
Other key lawyers:
Jordan Hershman; Charlene Shimada; Michael Kichline
J.P. Morgan Securities LLC
Needham & Company, LLC
Goldman Sachs & Co. LLC
Bank of America Securities, Inc.
Morgan Stanley & Co. LLC
Synchronoss Technologies, Inc.
Casa Systems, Inc.
Buckeye Partners LP
Axsome Therapeutics Inc
The Penn Mutual Life Insurance Company
- Representing J.P. Morgan Securities LLC and 9 other underwriters for Bloom Energy’s July 2018 initial public offering in parallel securities class actions filed in the U.S. District Court for the Northern District of California and California Superior Court.
- Secured a dismissal with prejudice in a shareholder derivative lawsuit against the directors of Synchronoss Technologies Inc.
- Secured the complete dismissal of a securities class action for our clients, Casa Systems Inc. and several of its current and former directors and officers (D&Os).
O'Melveny & Myers LLP
O'Melveny & Myers LLP is known for ‘bringing a clear legal strategy that puts clients in a favorable position’. The firm’s core team of more than 50 securities litigators on both coasts is best known for its work for underwriter syndicates, members of which include the likes of Bank of America and Citigroup, but it also handles issuer-side defense work for clients such as Sempra Energy. The practice, which is led by Jonathan Rosenberg in New York and Matthew Close in Newport Beach, is particularly adept in Section 11 cases relating to IPOs. Rosenberg and Los Angeles-based William Pao are defending a Citigroup-led underwriting syndicate in a securities class action arising from the September 2018 IPO of Qutoutiao, a China-based mobile social media application. They also defended a Goldman Sachs-led syndicate in multiple actions in state and federal court in California concerning the IPO of Dropbox, Inc. Standout partner Seth Aronson in LA worked with Pao to secure the dismissal of claims against Arcsoft concerning its 2017 buyout. Amy Park in Silicon Valley ‘does a spectacular job of collecting the facts, ensuring all materials are reviewed carefully for relevance, and being prepared for multiple strategies by the opposing counsel’.
Matthew Close; Jonathan Rosenberg
Other key lawyers:
William Pao; Seth Aronson; Amy Park
‘The OMM team brought a clear legal strategy that put us in a favorable position immediately. They tried multiple ways to settle with the other side early with reasonable proposals and when those were not accepted and a lawsuit was filed, our team lead by Amy Park did a spectacular job of collecting the facts, ensuring all materials were reviewed carefully for relevance, and being prepared for multiple strategies by the opposing counsel to try and increase the cost and visibility of the matter. She and her team ensured we had thought through our “offramps” as the matter continued and kept us in the loop on developments and conversations with the other counsel, judges, and eventually the arbitrator. When needed, internal experts joined the conversation to provide perspective. The effort was well run, well resourced, and very collaborative.’
‘Amy Park brought a diverse team that included different experts from the firm as well as diverse thinkers into our defense strategy. She and her team were relentless in giving us every opportunity to create an advantage in the proceedings and that was very appreciated and led to the decision being 100% in our favor. We also felt incredibly informed and were listened to when we provided feedback on written materials that might appear publicly. Amy and her team also did a spectacular job ensuring our team was comfortable being deposed, a new experience for many of them.’
Apollo Global Management
ArcSoft Corporation Ltd.
Bank of America, Citigroup, Goldman Sachs, and Morgan Stanley-led Underwriter Syndicates
BrightSpire Capital (f/k/a Colony Credit Real Estate)
Former directors of WageWorks, Inc.
Maxar Technologies, Inc.
Oakland Roots Soccer Club
Vecco Instruments, Inc.
Wells Fargo Bank, N.A.
Ziff Davis, Inc. (f/k/a J2 Global, Inc.)
Ropes & Gray LLP
Ropes & Gray LLP climbs the ranking this year having continued to bolster its practice with new hires and promotions, and having secured key roles in high-profile matters. It is particularly active in the asset management and private equity space, as well as representing investment banks, life sciences companies and public corporations in securities cases and regulatory enforcement matters. David Hennes in New York and Peter Welsh in Boston are the lead partners. Hennes and New York partner Martin Crisp are advising banks on a federal securities class action filed in connection with the IPO of Jianpu Technology Inc. Gregg Weiner in New York secured the dismissal of securities class action claims against underwriters including Morgan Stanley and Citigroup, which concerned alleged misstatements by AmTrust Financial Services in connection with certain equity offerings. The matters are currently on appeal in the Second Circuit. Robert Skinner is one of the country’s leading asset management litigators in the United States, frequently scoring high-profile victories for the most prominent asset managers. He is acting for Eaton Vance Funds and Nuveen Funds in cases against activist investor Saba Capital. Amy Jane Longo, formerly head of the trial unit at the SEC’s Los Angeles Regional Office, joined the practice, which also made up three new partners in 2022. Emerging talent in San Francisco Anne Johnson Palmer is highly recommended.
David Hennes; Peter Welsh
Other key lawyers:
Amy Jane Longo; Anne Johnson Palmer; Robert Skinner; Gregg Weiner; Martin Crisp
Akcea Therapeutics, Inc. – former directors
Akebia Therapeutics, Inc. – former directors
Allianz Global Investors U.S. LLC
Deutsche Bank AG and current and former directors and officers
Eaton Vance Funds
Forescout Technologies, Inc.
Keryx Biopharmaceuticals, Inc.
REV Group, Inc.
Semper Midas Fund
SolarWinds – former CEO and board member Kevin Thompson
TG Therapeutics, Inc.
Underwriter Defendants: Morgan Stanley; Citigroup; RBC Capital Markets; UBS Securities; Keefe, Bruyette & Woods; China Renaissance Securities; Goldman Sachs (Asia); J.P. Morgan Securities; Credit Suisse; Robert W. Baird & Co.; Cowen and Company; Stifel, Nicolaus & Company; Wedbush Securities; Merrill Lynch; Apollo
- Acting as lead counsel in a shareholder derivative action brought in New York State court asserting breach of fiduciary duty under German law and related claims for secondary liability against forty-four current and former members of the Management and Supervisory Boards of Deutsche Bank, Germany’s leading financial institution.
- Won the dismissal of a derivative claim brought in Delaware by alleged shareholders of SolarWinds, claiming that the Company’s current and former directors breached their fiduciary duties by failing to ensure that SolarWinds had minimal cybersecurity protections.
- Won dismissal, with prejudice, of a federal securities law class-action lawsuit brought against Provention Bio in the District of New Jersey.
Wachtell, Lipton, Rosen & Katz
New York-based firm Wachtell, Lipton, Rosen & Katz is widely recognised as one of the leading corporate practices in the country, hence its stellar client base. Among its clients are Amazon, Bayer AG, Facebook and Twitter. As well as Fortune 500 companies, the firm also acts for financial institutions in securities fraud class actions, books-and-records demands, and IPO- and proxy-related disclosure claims. This gives the firm a role in high-stakes securities and merger-related cases. William Savitt, who is co-chair of the litigation practice and is focused predominantly on M&A and corporate governance disputes, as well as securities cases, leads the practice with Jonathan Moses, who handles complex commercial, securities and antitrust litigation. Savitt and Sarah Eddy acted for a special committee of independent directors of L Brands, the parent company of Victoria’s Secret, to handle issues arising from accusations of sexual harassment and misconduct at the company.
Jonathan Moses; William Savitt
Other key lawyers:
The Chemours Company
Madison Square Garden Entertainment
Williams & Connolly LLP
Williams & Connolly LLP in Washington DC is ‘extremely collaborative in working with clients and the lawyers are experts in this practice area’. The firm has demonstrable trial and appellate capabilities, giving it a strong track record in court and at the motion to dismiss stage. Steven Farina, Amanda MacDonald and Robert Van Kirk are the lead partners. Farina and MacDonald handled class actions in multiple jurisdictions against CVS arising from the company’s announcement of a goodwill write-down associated with its Omnicare business. The cases were dismissed after oral argument. Van Kirk and emerging partner talent John Williams are key advisors to The Carlyle Group, Inc. MacDonald and Michael Mestitz (who are both ‘highly skilled, a pleasure to work with and excellent collaborators’) secured the dismissal with prejudice of a securities fraud class action against Range Resources, which was accused of making false and misleading statements in light of a settlement with the company’s Pennsylvania regulator.
Steven Farina; Robert Van Kirk; Amanda MacDonald
Other key lawyers:
Michael Mestitz; John Williams
‘The relative strengths of this team are numerous. First they were very willing to work under a mutually beneficial alternative fee arrangement. They were extremely collaborative in working with clients and the lawyers are experts in this practice area.’
‘The lawyers I primarily worked with were partner Amanda MacDonald and Michael Mestitz. They were both excellent. Highly skilled, a pleasure to work with and excellent collaborators. I can highly recommend them.’
The Carlyle Group, Inc. and certain of its directors and officers
Roivant Sciences Ltd.
The Carlyle Group, Inc., various affiliated entities, and the former directors of Authentix, Inc.
AmTrust Financial Services
Bank of America
Entrepreneur of Co-Founder of ZocDoc
Ernst & Young GmbH Wirtschaftspruefungsgesellschaft
- Representing CVS Health in multiple pending federal and state securities class actions alleging 1933 and 1934 Act violations relating to its acquisition of Omnicare in 2015 and subsequent accounting judgments, securing a major victory before the First Circuit, which affirmed the district court’s dismissal with prejudice of a putative investor class action arising from the acquisition.
- Representing Silver Lake in a putative securities litigation class action filed in the U.S. District Court for the Northern District of California asserting purported violations of Section 10(b) of the Exchange Act, SEC Rule 10b-5, and Section 20A of the Exchange Act. In September 2022, the court granted defendants’ motion to dismiss, with leave to replead.
- Representing The Carlyle Group, its board of directors, and several executives in derivative and direct claims with respect to the company’s termination of a tax receivable agreement.
Willkie Farr & Gallagher LLP
Willkie Farr & Gallagher LLP has a track record of precedent-setting victories and favorable settlements involving securities litigation and shareholder class actions. The firm frequently acts for underwriters in the defense of high-stakes matters, particularly cases arising from IPOs, as well as regulatory investigations and inquiries from the SEC. The practice is led from New York by head of litigation Tariq Mundiya and co-charis for securities litigation Todd Cosenza and Antonio Yanez. Mundiya handled putative derivative and class action cases for Xerox, Cosenza acted for Wells Fargo in a high-profile case alleging alleged failures by the bank to comply with consent orders issued by regulators in the aftermath of its high-profile 2016 customer account fraud, and Yanez is currently representing alternative asset management and investment firm GWG Holdings in matters arising out of an SEC investigation into its accounting and capital raising practices. Craig Martin in Chicago remains a lynchpin of the practice and recently acted for Ulta Beauty in putative nationwide consumer class action, securities fraud, and shareholder derivative litigation cases concerning an alleged practice of reselling used beauty products that have been returned by customers. In 2022, partners Kristina Littman and Adam Aderton joined the Washington DC office from the SEC’s Division of Enforcement.
Tariq Mundiya; Todd Cosenza; Antonio Yanez
Other key lawyers:
Craig Martin; Kristina Littman; Adam Aderton
Board of Directors of Wells Fargo
Diamond Offshore Drilling Inc.
Xerox Corporation and the Independent Directors of Xerox
Underwriters to Uber’s $8.1 billion IPO
Underwriter group of Casper’s IPO
B. Riley Wealth Management, Inc.
Former SEC Officials and Law Professors
Resideo Technologies Inc.
GWG Holdings, Inc.
Nine underwriters in Farfetch Limited’s IPO
L-5 Healthcare Partners, LLC
Underwriters to Stronghold Digital Mining, Inc.’s IPO
MLV & Co LLC and National Securities Inc.
Citadel Securities LLC
Pivotal Investment Holdings II LLC
Goldman Sachs & Co., LLC, Morgan Stanley & Co., LLC, and eight remaining members of an investment banking syndicate
Underwriters of Vroom Inc.’s IPO
Underwriters of Cloopen’s IPO
Clovis Oncology, Inc.
SMBC Nikko Securities America Inc.
Ulta Beauty Inc.
Former Directors and Officers of Appvion Corporation
- Achieved dismissal of a high-profile derivative action against the independent directors of Wells Fargo, arising out of alleged failures by Wells Fargo and its Board to comply with several consent orders issued by banking and other federal regulators in the aftermath of its high-profile 2016 customer account fraud.
- Representing biotech company GenapSys Inc. in litigation pending in Delaware and California arising out of Foresite’s multimillion-dollar stock purchase investment in GenapSys and certain relations between Foresite and GenapSys since.
- Representing L-5 Healthcare Partners in an action arising out of a March 2018 share purchase agreement between L-5 and Alphatec.
WilmerHale’s deep bench of securities litigators and regulatory enforcement specialists is frequently involved in high-stakes matters involving securities laws and rules of corporate governance actively litigated by government agencies, regulatory bodies and private parties. The firm has a presence across the US, notably in its California, New York, Boston and Washington DC offices. Stephanie Avakian in DC is chair of the securities and financial services department. Michael Bongiorno in New York and DC-based Matthew Martens co-chair the securities litigation and enforcement group. Kevin Muck and Susan Muck in San Francisco represented AnaptysBio in a class action alleging that its officers made false and misleading statements regarding one of the its drugs, etokimab, and in a derivative suit claiming that the directors breached their fiduciary duties. Up-and-coming partner Timothy Perla in Boston worked with Bongiorno to defend IVERIC bio, Inc. in a class action alleging that the company issued deceptively positive results about the success and potential of its treatment Fovista despite knowing that the Phase 3 clinical trial of the drug would be unsuccessful in achieving its primary endpoint.
Stephanie Avakian; Michael Bongiorno; Matthew Martens
Other key lawyers:
Kevin Muck; Susan Muck; Timothy Perla
Plantronics (aka Poly)
Velodyne Lidar, Inc.
Renewable Energy Group, Inc.
Activision Blizzard, Inc.
Embark Technology. Inc.
Former Chief Auditor of Wells Fargo
Reckitt Benckiser Group plc
State Street Bank and Trust Co.
Karyopharm Therapeutics Inc.
Iterum Therapeutics plc
BMW of North America, LLC
IVERIC bio, Inc.
XL Hybrids, Inc.
- Representing Karyopharm in a securities class action litigation filed in the U.S. District Court for the District of Massachusetts. The complaint alleges violations of federal securities laws based on Karyopharm’s disclosures related to the results from the Phase 2 SOPRA study and Part 2 of the Phase 2b STORM study.
- Representing Activision Blizzard, Inc., a Fortune 500 video game company, and its officers in a securities class action in the United States District Court for the Central District of California. The firm also represents the Company and its Board of Directors in related derivative litigation in the United States District Court for the Central District of California and the California Superior Court, County of Los Angeles.
- Representing Renewable Energy Group, Inc. (“REG”), North America’s largest producer of advanced biofuels, in a pending securities class action in the United States District Court for the Southern District of New York and derivative suits in New York and Delaware. The litigation arises out of REG’s multiyear restatement, announced in 2021.
Akin Gump Strauss Hauer & Feld LLP
Akin Gump Strauss Hauer & Feld LLP is known for its expertise in representing leading financial institutions and public companies, including private investment funds, broker dealers, and public accounting firms in private litigation arising under the federal securities and commodities laws, as well as regulatory investigations. Practice head Stephen M. Baldini in New York and key partner Neal Marder in LA achieved a landmark victory for Eastman Kodak Company by securing a motion to dismiss a purported direct stockholder class action. Marder also represented Armistice Capital in a high-stakes securities fraud class action involving biotech firm Vaxart, which is working on oral vaccine technology, including an oral COVID-19 vaccine. New York-based Douglas Rappaport is acting for Inclusive Capital Partners Spring Master Fund in a case alleging that is aided and abetted in breach of fiduciary duty by officers and directors of Nikola Corporation who failed to prevent, intervene or ameliorate various allegedly false or misleading statements made by its former CEO. Scott Barnard and Michelle Reed in Dallas also play key roles in the practice. They both acted for former directors of FTS International and Chesapeake Energy in a securities class action arising from Chesapeake’s IPO.
Other key lawyers:
Neal Marder; Douglas Rappaport; Scott Barnard; Michelle Reed
Eastman Kodak Company
Talos Energy, Inc.
Energy & Minerals Group
Inclusive Capital Partners Spring Master Fund
Domenic J. Dell’Osso, Jr. and Bryan J. Lemmerman
Luxor Capital Group
Kawa Capital Management
AB Energy Opportunity Fund
- Achieved a victory for Eastman Kodak Company, when the Hon. J. Scott Odorisi (New York Supreme Court, Monroe County) granted in full Kodak’s motion to dismiss a purported direct stockholder class action, with prejudice.
- Prevailed on a motion to dismiss for Armistice Capital in a high-stakes corporate securities class action involving a biotech firm seeking to develop an oral COVID-19 vaccine that was accused of enriching insiders through the press, including our client.
- Achieved a successful result on behalf of Arthur Hayes, the co-founder of BitMEX, one of the world’s largest cryptocurrency derivatives trading platforms, in a first-of-its-kind criminal prosecution brought by the United States Attorney’s Office for the Southern District of New York alleging violations of the Bank Secrecy Act (BSA) for BitMEX’s lack of a compliant anti-money laundering program.
Arnold & Porter
Arnold & Porter has a very broad practice that handles high-stakes federal and state class action securities and derivative actions, as well as SEC, DOJ, PCAOB, CFTC, and FINRA investigations. Veronica Callahan in New York is chair of the securities enforcement and litigation practice. She worked closely with Kathleen Reilly to defend RSM US LLP, a national accounting firm, in a complex case involving assessed unpaid taxes and penalties associated with one of Yorkville Global Ltd. offshore entities exceeding $100 million. Callahan and Aaron Miner served as independent counsel to the special committee of the board of directors of the Western Union Company charged with reviewing and investigating shareholder demand letters alleging breaches of directors’ and officers’ duty to oversee anti-money laundering and fraud compliance related to the cross-border transfer of funds. In Washington DC, former co-chair of the practice Michael Trager and up-and-coming partner Jane Norberg, former Chief of the Office of the Whistleblower for the SEC, are prominent in corporate and regulatory investigations as well as securities litigation.
Other key lawyers:
Aaron Miner; Michael Trager; Jane Norberg; Kathleen Reilly
Founder and Chief Investment Officer of Infinity Q Capital
Former Chief Legal Officer of Fortune 500 company
Special Committee of the Board of Directors of Western Union Co.
RSM US LLP
Aegis Capital Corp.
York Capital Management
- Representing RSM US LLP in investigations by the SEC and PCAOB involving auditor independence, including with respect to the performance of non-audit services for audit clients, and accounting firm entity theories of liability.
- Representing James Velissaris, the founder and former Chief Investment Officer of Infinity Q Capital Management, in connection with a fast moving DOJ criminal proceeding, SEC and CFTC regulatory enforcement actions, and multiple civil litigations
- Representing Extended Nursing Personnel CHHA, LLC, a New York State licensed special needs certified home health agency, as well as its owners, in a broken deal lawsuit in New York State Supreme Court.
Baker Botts L.L.P.
Baker Botts L.L.P. is best known for its work for clients in the energy sector, though it continues to extend its focus in securities litigation to include the technology, financial services, healthcare and consumer products sectors. The firm is known for ‘professionalism, client communication, focus and sustained effort over lengthy periods of time’. Danny David (who has ‘outstanding oral and written communication skills’) and Amy Hefley in Houston lead the practice alongside Bridget Moore in Washington DC and Jessica Pulliam in Dallas. David, Pulliam and Moore handled a putative securities class action lawsuit against Hallmark Financial Services, its CEO and CFO, securing the dismissal of claims that the company made misleading public disclosures related to its financial performance, including its loss reserves. Former litigation chair David Sterling in Houston and newly promoted partner Brian Kerr in New York also have pivotal roles in the practice. They worked with Hefley on securing the dismissal of a 10b-5 class action against Insperity, which alleged the company misrepresented the risk of large medical claims.
Danny David; Bridget Moore; Jessica Pulliam; Amy Hefley
Other key lawyers:
David Sterling; Brian Kerr
‘Professionalism, client communication, focus and sustained effort over lengthy periods of time.’
‘Danny David – comprehensive understand of the case and the legal issues, diligence in approach, outstanding oral and written communication skills, formulation of responses and strategy.’
‘The Baker Botts team was excellent, expertly handling our securities class action and achieving a victory on the motion to dismiss.’
‘Partners David Sterling and Amy Hefley were outstanding, with their ability to quickly understand our complex business and the surrounding issues. Also, their responsiveness and communication were excellent.’
‘Amy Hefley has been invaluable for our entity. Work product is exceptional, but her advice on how to proceed is why we choose Baker Botts every time we find ourselves in a dispute.’
Hallmark Financial Services
Liberty Media Corporation
Gulfport Energy Corporation
Charles Schwab Corporation
Chicago Bridge & Iron Company
McDermott International, Inc.
Waste Management, Inc.
MabVax Therapeutics, Inc.
Cadwalader, Wickersham & Taft LLP
Cadwalader, Wickersham & Taft LLP in New York is a go-to firm for financial services disputes and transactions. It frequently acts for commercial and investment banks, private equity firms and hedge funds in securities litigation. The practice is led by chair of the global litigation group Jason Halper, who has a strong focus on financial services, securities law and corporate governance, and prominent commercial and antitrust litigator Nicholas Gravante. Halper is the firm’s standout securities litigator and he is currently handling complex matters arising from the implosion of Archegos Capital Management, a private investment firm that borrowed extensively from major financial institutions – including Goldman Sachs, Credit Suisse and Morgan Stanley – in transactions involving total return swaps. Ellen Holloman frequently acts for financial institutions, corporations and individuals in civil litigation and at trial, and she maintains a very active securities litigation practice. Holloman is currently involved in SPAC-related litigation for electric vehicle company Nikola Motors that alleges federal securities law violations and breaches of fiduciary duties by the company’s directors following investigations by the SEC, DOJ and other regulators. Kenneth Breen and Phara Guberman, who both joined from Paul Hastings LLP, bring valuable experience in white-collar matters and civil litigation.
Jason Halper; Nicholas Gravante
Other key lawyers:
Ellen Holloman; Kenneth Breen; Phara Guberman
Cavco Industries, Inc.
Corindus Vascular Robotics, Inc.
Endurance U.S. Holding Corp.
Major global financial institution
Several major global financial institutions
Janus Henderson Group plc, Janus Index & Calculation Services LLC, and Janus Distributors LLC
Janus Henderson Group plc, Janus Index & Calculation Services LLC (n/k/a Janus Henderson Indices LLC) and Janus Distributors LLC (together, “Janus”)
Mizuho Securities USA LLC
- Representing Nikola Motors in connection with civil suits alleging federal securities law violations and breaches of fiduciary duties by directors of Nikola.
- Represented major global financial institutions in connection with the implosion of Archegos Capital Management.
Clifford Chance’s New York team includes four former federal prosecutors, and former senior regulators and prosecutors from US regulatory agencies such as the New York State Department of Financial Services (DFS) and the Commodity Futures Trading Commission (CFTC). The New York practice is tightly integrated with the Washington DC office to provide seamless coverage for global and domestic clients, among them large global financial institutions and companies. The firm has ‘top-notch capabilities – the CC securities litigators routinely handle bet-the-company cases’. Lead partner Robert Houck in New York ‘has great APAC and European experience meaning he is able to cover multiple regions as part of global projects’. Houck, John Friel and senior counsel David Yeres acted for NatWest Markets in class actions and investigations alleging manipulation of LIBOR and other benchmarks.
Other key lawyers:
David Yeres; John Friel
‘Top notch capabilities – the CC securities litigators routinely handle “bet the company” cases for their clients and are top tier on the defense side.’
‘Rob Houck leads the practice and is viewed by co-counsel and clients as quite capable and an effective advocate.’
‘Whilst based in New York, the team has deep international regulatory and dispute relations experience that means clients can use them on investigations or projects spanning multiple jurisdictions. The collaboration between the dispute resolution, regulatory and sanctions teams is particularly helpful and noteworthy.’
‘Robert Houck in particular has strong US dispute resolution and regulatory experience having worked on multiple rate setting investigations for example. He has also great APAC and European experience meaning he is able to cover multiple regions as part of global projects. David Yeres similarly is very strong on regulatory.’
Dr. Mike Lynch, founder of Autonomy
ICBC Standard Bank Plc
Government of Sri Lanka
- Advising Dr. Mike Lynch in connection with civil litigation and criminal investigations in the UK and U.S. The matter involves allegations of accounting improprieties at Autonomy, a FTSE 100 UK technology company which Hewlett-Packard (HP) purchased in 2011 for US$11 billion.
- Successfully defending ICBC Standard Bank plc, a large financial institution, in U.S. class action litigation concerning alleged manipulation of platinum and palladium benchmarks in London. Plaintiffs are investors in a variety of U.S. derivatives and physical metals contracts.
- Advising NatWest Markets in numerous class actions and regulatory investigations alleging manipulation of LIBOR and other benchmarks, and in subsequent implementation of settlement undertakings and compliance audits.
Cohen & Gresser LLP
At Cohen & Gresser LLP, the team is ‘superb, has substantial experience defending securities matters, and has a long track record of success’. The firm’s work spans securities, shareholder and derivative litigation, particularly in cases concerning complex financial products and the defense of broker-dealers, investment advisors, hedge funds, and private equity funds in securities litigation and FINRA arbitration. Practice head Mark Cohen, who handles securities litigation and white-collar matters, ‘is a superb lawyer, very versatile, smart and experienced’. He is currently defending Oren Frank, co-founder and former CEO of Talkspace, Inc., in a federal securities class action and shareholder derivative litigation arising from disclosures concerning the company’s de-SPAC business combination and public listing in 2021. Gale Dick, who similarly has broad practice, is currently representing several former employees of major financial institutions in domestic and cross-border cases, and Jonathan Abernethy is acting for John Tavlarios, a former outside director of now-bankrupt Aegean Marine Petroleum Network, in a consolidated securities class action seeking damages in connection with an alleged $300m fraud scheme that forced the company into bankruptcy in 2018.
Other key lawyers:
Jonathan Abernethy; Gale Dick
‘The C&G team is superb. They have substantial experience defending securities matters and have a long track record of success.’
‘Mark Cohen is a superb lawyer. He is very versatile, smart and experienced.’
Giovanni Visentin (CEO of Xerox Corporation)
Oren Frank (former CEO of Talkspace)
Fidelity Brokerage Services
Dentons is experienced in high-stakes securities matters, including class actions, complex securities-related disputes and related national or global investigations, and its strong bench of partners handles both litigation and regulatory enforcement matters. Sandra Hauser leads the practice from New York, where global co-head of financial services Douglas Henkin and co-chair of the Global Compliance and Investigations practice David Kornblau also play key roles in major matters. The firm is increasingly involved in new and emerging areas of the market, notably cryptocurrency cases, and Henkin and Chicago-based Stephen Senderowitz are defending Terraform Labs and its co-founder Do Kwon in cases related to the stablecoin TerraUSD, the cryptocurrency Luna, and its decentralized finance platforms Mirror Protocol and Anchor Protocol. Hauser and Senderowitz are currently acting for Canadian Imperial Bank of Commerce in a securities fraud and market manipulation suit. Kenneth Pfaehler in Washington DC focuses on securities class action litigation, which currently includes the defense of Innocoll Holdings PLC in a case alleging misrepresentations in connection with the FDA review of its product Xaracoll.
Other key lawyers:
Stephen Senderowitz; Douglas Henkin; David Kornblau
New York Stock Exchange LLC
NYSE Arca, Inc.
Canadian Imperial Bank of Commerce (CIBC)
Sand Canyon Corporation
First American Title Insurance Company
Terraform Labs and Do Kwon
electroCore, Inc., its directors and two founding investors
Innocoll Holdings PLC
Tenet Fintech Group
- Represented New York Stock Exchange LLC, NYSE Arca, Inc., and NYSE Chicago in a Section 10(b) market manipulation case against seven of the major US equities exchanges alleging that the exchanges’ provision of proprietary data feeds, colocation services, and “complex” order types allowed what plaintiffs call “high frequency trading” (HFT) firms to manipulate every equities trade in the US markets from 2009 through the present.
- Representing CIBC World Markets Corp. and CIBC World Markets Inc. in a securities fraud and market manipulation suit in the Southern District of New York, raising claims of spoofing against the CIBC defendants and manipulative short-selling against other defendants, under Sections 10(b) and 9(a)(2) of the Exchange Act. After a narrowing of the claims by the Court on a motion to dismiss, only the spoofing allegations remain in the case.
- Defending Tenet and its CFO in a putative class action brought in the United States District Court for the Eastern District of New York by shareholders who allege that Tenet made false and misleading statements in connection with its August 2021 Form 40-F and a brief listing of its stock on Nasdaq in the fall of 2021 before that Form 40-F became effective.
DLA Piper LLP (US)
DLA Piper LLP (US) has a diverse national corporate and securities litigation practice that spans the US, with offices in New York, California, Texas, Delaware and other key jurisdictions. It is particularly active in cases involving the life sciences, financial services, insurance, and technology sectors, hence a client base that includes Goldman Sachs, Abengoa and AxoGen, Inc. John Clarke in New York and Melanie Walker in Los Angeles are co-chairs of the practice. Clarke is representing Bristol-Myers Squibb Company in an action alleging breaches of a contingent value rights agreement. Caryn Schechtman in New York led the defense of AxoGen, which creates innovative nerve repair products, and achieved the dismissal of claims arising from its IPO. Jeffrey Rotenberg in New York obtained dismissal with prejudice of a putative securities class action filed against Spanish sustainable energy company Abengoa. John Hillebrecht in New York and Jason Lewis in Dallas also play key roles in the practice.
John Clarke; Melanie Walker
Other key lawyers:
Caryn Schechtman; Jeffrey Rotenberg; John Hillebrecht; Jason Lewis
Bristol-Myers Squibb Company
Atlas Financial Holdings, Inc.
Goldman Sachs & Co. et al. (Athira Pharma)
Hain Celestial Group, Inc.
Committee of the Board of Sterling Bancorp, Inc.
Prominent National Insurance Company
RCI Hospitality Holding Inc.
Black Girls Code
FEV US LLC
Noble Capital Group
Japan NuScale Innovation
- Won an appellate victory on behalf of AxoGen, Inc., which creates innovative nerve repair products, in the US Court of Appeals for the Eleventh Circuit. In a published opinion, the court affirmed the dismissal of claims under the Securities Act of 1933 asserted against AxoGen, Inc., its directors, officers, and several underwriters. The opinion adds important guidance on the meaning of “forward-looking statements” under the PSLRA safe harbor.
- Achieved dismissal with prejudice of a securities fraud complaint against Abengoa, S.A., a Spanish sustainable energy company, in a putative class action that had been pending for several years in the Southern District of New York.
- Secured a potentially dispositive ruling on behalf of Hain Celestial Group, Inc. and four of its senior officers in a putative securities class action in the US District Court for the Eastern District of New York. The decision remains subject to final approval by the district judge.
Greenberg Traurig, LLP
At Greenberg Traurig LLP provides ‘quality representation and a high degree of knowledge’ and clients report that the firm stands out for its ‘focus on communication and collaboration with clients, streamlined staffing and cost-effectiveness’. The firm has handled hundreds of securities class actions, derivative lawsuits, SEC investigations and enforcement actions, bringing to bear its extensive trial experience as well as significant skill in defeating class certification. Brad Kaufman and Tracy Gerber in West Palm Beach, William Briendel in Westchester County, Robert Horowitz in New York and Daniel Tyukody in Los Angeles are co-chairs of the securities litigation practice. Gerber handled the defense of Morgan Stanley in counterclaims for bad faith, constructive discharge, breach of the covenant of good faith and fair dealing, and violation of FINRA Rules, achieving full dismissal with prejudice. Tyukody is representing speedster Apolo Ohno in connection with a federal securities fraud case concerning a new cryptocurrency token. Karl Dial in Dallas provides ‘high-value personalized service and is incredibly prompt to respond to any inquiry’.
Brad Kaufman; William Briendel; Tracy Gerber; Bob Horowitz; Daniel Tyukody
Other key lawyers:
‘Karl Dial is a great resource in Texas.’
‘Karl Dial has ably represented us in a mix of civil and regulatory matters. He has a good touch with regulators, who find him very credible.’
‘Focus on communication and collaboration with client, streamlined staffing, appropriate use of partner/associate time, consistency in staffing, cost effective and bills timely and appropriately organized, so we know what we are paying for.’
‘Quality representation and a high degree of knowledge specific to the area of need.’
‘Karl Dial provides high-value personalized service and is incredibly prompt to respond to any inquiry or need.’
Directors and Officers of Anworth Financial Corp.
Wafra, Inc./Public Institution for Social Security (PIFSS)
Former Outside Directors of Exactech Inc.
Walton International Group, Inc.
Jack B. Blount, former CEO of Intrusion, Inc.
Cullen/Frost Bankers, Inc., Frost Bank, and Frost Investment Advisors
Thomas J. Felton
- Securing a complete victory for Morgan Stanley in a FINRA employment arbitration case, in which a former financial advisor of the client claimed that the Managing Director defrauded him and breached his fiduciary duty under an alleged partnership.
- Represented America’s most highly decorated Winter Olympian and Gold Medal speedskater, in connection with a federal securities fraud case filed against him by investors involving a new cryptocurrency token.
- Representing Kuwait’s social security fund (PIFSS) and its investor advisor (Wafra) in connection with its investment in Madoff-affiliated funds and the bankruptcy trustee’s attempt to claw-back $30 million in redemptions PIFSS received prior to the Madoff bankruptcy.
Katten has a strong and long-established reputation across the US for its defense work in litigation cases and regulatory matters requiring, including matters that involve novel points of law. Bruce Vanyo, who works from both Los Angeles and New York, leads a practice that handles securities class actions, stockholder derivatives cases, M&A litigation, proxy disclosure suits and SEC investigations and enforcement actions. Vanyo has been involved in cases arising from SPAC transactions, among them the defense of orbital space launch vehicle company Astra Space in a 10b5 case concerning allegations that the company made misleading statements in its public disclosures and SEC filings concerning its addressable market and plans for diversification. Michael Diver, a former Enforcement Branch Chief of the SEC’s Chicago office, and Michael Lohnes – both based in Chicago – are acting for Inotiv, Inc. in a class acting claiming that it made false and misleading statements issued in press releases and SEC filings regarding the acquisition of Envigo, a business that provides research-quality animals for use in laboratory tests, and potential risks associated with Envigo’s animal-housing facilities. Christina Costley and Richard Zelichov are the standout practitioners in LA.
Other key lawyers:
Michael Diver; Christina Costley; Michael Lohnes; Richard Zelichov
Astra Space, Inc.
Braxia Scientific Corp.
Coupa Software, Inc.
Former CEO of SeaWorld Entertainment, Inc.
Former Frutarom Ltd. Officers Ori Yehudai, Ari Rosenthal, Alon Granot and Guy Gill
Former officers of Workhorse Group Inc., including Duane Hughes (former CEO), Steve Schrader (former CFO), Robert Willison (former COO), Stephen Fleming (former GC) and Anthony Furey (former VP Finance)
Inotiv, Inc.; Robert Leasure; Beth Taylor
Non-independent directors of SLR Senior Investment Corp. (SUNS) and SLR Investment Corp. (SLRC) who are also affiliated with SUNS and SLRC’s investment adviser SLR Capital Partners, LLC
RedRidge Finance Group, LLC; RedRidge Lender Services, LLC (together, “RedRidge”); Randolph Abrahams
- Retained by Stamps.com and certain of its officers and directors to strategize a global defense regarding a securities class action, a stockholder derivative case, and litigation brought in state and federal courts in connection with the acquisition of Stamps.com by Thoma Bravo for approximately USD6billion.
- Retained to represent former senior officers of Workhorse in connection with a securities class action in federal court in California and a series of stockholder derivative lawsuits filed in federal courts in California and Nevada and state court in Nevada.
- Won a major victory this year for Amarin and its officers and directors in obtaining complete dismissal of a multi-billion-dollar Section 10(b) securities class action in the US District Court for the District of New Jersey.
Mayer Brown ‘astutely staffs matters, engages the right diverse pool of lawyers, and applies exceptional judgment to achieve solid results for clients’. The firm handles both domestic and cross-border securities litigation, drawing on its outstanding compliance, investigation, enforcement, litigation, and appellate capabilities. The firm is involved in matters arising from the global financial crisis, in part due to its close ties with major financial institutions, among them Bank of New York Mellon and Nomura Securities. Joe De Simone in New York (who is ‘brilliant and still has the common touch with street smart, good judgment’) and Glenn Vanzura in Los Angeles are the lead partners. De Simone and New York-based Matthew Ingber settled a federal securities class action for Frontier Communications Corporation arising from its acquisition of Verizon accounts in California, Texas and Florida. Richard Spehr, also based in New York, continues to act for Bank of Montreal as successor to M&I Bank in the aftermath of a $3bn Ponzi scheme, the bank being accused of aiding and abetting.
Joseph De Simone; Glenn Vanzura
Other key lawyers:
Richard Spehr; Matthew Ingber
‘I have worked beside Mayer Brown on several securities cases. This firm astutely staffs matters, engages the right diverse pool of lawyers, and applies exceptional judgment to achieve solid results for clients.’
‘Joe DeSimone may or may not lead the securities group. Whatever his formal title is at the firm. He is effectively the leader. He is brilliant and still has the common touch with street smart good judgment.’
Bank of New York Mellon (BNYM)
Frontier Communications Corporation
Altisource Residential Corporation
Bank of Montreal (BMO)
Nomura Securities International
Sun Hung Kai Strategic Capital Limited
- Sounded the death knell on the government’s theory of securities fraud for bond traders’ hardball negotiation tactics. In 2017, the SEC filed a complaint against James Im, a CMBS bond trader at Nomura Securities International, alleging that his lies about acquisition price and ownership violated the securities laws. These allegations mirrored criminal charges brought by the DOJ against RMBS traders. Although the DOJ was able to secure some criminal convictions, a Manhattan jury determined that the SEC failed to prove that Mr. Im’s admitted lies amounted to even a civil violation.
- Prevailed in a shareholder class action in the Delaware Court of Chancery. In 2020, Chevron merged with Noble Energy, an oil and gas company, following a collapse in the industry as a result of the COVID-19 pandemic and a price war between Saudi Arabia and Russia. The plaintiffs claimed that, by approving the merger, nine of Noble’s directors breached their fiduciary duties.
- Earned an important victory on behalf of The Bank of New York Mellon (BNYM) as trustee for 278 residential mortgage-backed securities. The First Department unanimously affirmed the lower court’s decision (which we won) that BNYM had correctly calculated payments to certain classes of certificate holders. The court found that, while the contracts were ambiguous, the trial court had properly relied upon BNYM’s course of conduct to resolve the dispute, and that it was correct to do so without discovery.
Morrison Foerster has experienced securities litigators across the country handling class actions, derivative cases, merger-related matters and SEC investigations. Jordan Eth and Mark Foster in San Francisco lead the securities litigation, enforcement, and white-collar defense group along with co-chair of the fintech and cryptocurrency task force Haimavathi Marlier in New York and co-head of the FCPA and global anti-corruption practice James Koukios in Washington DC. Eth is ‘a superstar with actual trial experience, who is even-handed, calm and very direct’. In San Francisco, Anna Erickson White ‘advises with confidence and ease on difficult issues and decisions throughout the litigation process’. She is handling parallel securities class actions for enterprise data platform company Cloudera, Inc., concerning statements about its products’ cloud capabilities and its merger with its former rival, Hortonworks. Jamie Levitt and Michael Birnbaum in New York also play key roles in the practice. Joel Haims moved to McDermott Will & Emery LLP.
Jordan Eth; Mark Foster; Haimavathi Marlier; James Koukios
Other key lawyers:
Anna Erickson White; Ryan Keats; Jamie Levitt; Michael Birnbaum
‘We’re fortunate to be working with an incredibly smart, experienced and responsive team of securities litigators at MoFo. They help us navigate complex issues in a strategic and pragmatic fashion with the highest level of professionalism. With their guidance, we’ve been able to achieve great results in challenging litigation matters.’
‘Anna Erickson White’s many years of experience in complex securities litigation shines through in her work. She advises with confidence and ease on difficult issues and decisions throughout the litigation process, always keeping us timely apprised and well-informed of developments, issues and strategy options. With Anna, we know we are getting “best in class” representation.’
‘Ryan Keats has been a key member of our team at MoFo, always both highly responsive and proactive in our matters. He keeps us well-informed and prepared at all stages of litigation and does so with the highest level of professionalism.’
‘MoFo fields a competent and capable team in support of litigation.’
‘Jordan Eth is a superstar. He has actual trial experience – extremely rare in securities litigation. He is even-handed, calm and very direct. Very helpful in cutting through the noise with board members.’
Acer Therapeutics Inc.
BlackBerry Limited and its former CEO, CFO, and CLO
Cabaletta Bio, Inc.
Farmland Partners Inc. and its CEO and CFO
Farmland Partners Inc.
Goldman Sachs and Citigroup
Launch Capital LLC
Monster Beverage Corporation
Pivotal Software Inc.
Precision Castparts Corp.
Vidul Prakash, former CFO of View, Inc.
- Advised Farmland Partners, Inc., its CEO, Paul Pittman, and President, Luca Fabbri in a long-running federal securities fraud class action which led to our client winning a summary judgment.
- Defending BlackBerry Limited, and certain of its former officers, in consolidated securities fraud class actions pending in the Southern District of New York relating to statements that BlackBerry and its officers made about the launch of BlackBerry 10 devices in the first part of 2013, and BlackBerry’s accounting for revenues and inventory associated with those devices.
- Representing Pivotal and its executives in federal and state securities litigation matters. The plaintiffs alleged that Pivotal misled investors about the capabilities of its software products and sales projections before its IPO.
Orrick, Herrington & Sutcliffe LLP
Orrick, Herrington & Sutcliffe LLP’s managing partner Michael Torpey in San Francisco leads the practice now that former practice head Robert Stern in Washington DC moved to Weil, Gotshal & Manges LLP. Torpey is highly experienced in SEC investigations, securities class actions and breach of fiduciary duty-related matters. The firm retains outstanding talent James Kramer and emerging partner talent Alex Talarides in San Francisco, who both acted for Apple in a securities class action and parallel shareholder derivative action arising from Apple’s announcement in January 2019 that it was lowering its revenue guidance for the first quarter of FY2019 to $84bn from the previously-provided range of $89-93bn. Paul Rugani, who works out of the New York, Los Angeles and Seattle offices, is another up-and-coming partner with experience in advising financial institutions, accounting firms, and public companies on securities litigation.
Other key lawyers:
Alex Talarides; James Kramer; Paul Rugani
PayPal Holdings, Inc.
Ramesh “Sunny” Balwani (Theranos)
James Monsees (JUUL)
Thought Convergence, Inc.
Kimmarie Sinatra (Wynn Resorts)
- Representing Apple in a securities class action and parallel shareholder derivative action arising from Apple’s announcement in January 2019 that it was lowering its revenue guidance for the first quarter of FY2019 to $84 billion from the previously-provided range of $89-93billion.
- Successfully represented PayPal in a string of securities class actions.
- Represented LendingClub and its directors and officers in a securities class action in the Northern District of California, and shareholder derivative action in the Delaware Court of Chancery.
Paul Hastings LLP
Paul Hastings LLP has a national securities litigation practice that has significant talent on both the East and West Coasts, as well as in key centers such as Houston and Chicago. Its work spans a broad spectrum of complex securities litigation matters, from civil litigation to criminal investigations, FCPA investigations, internal investigations, and SEC investigations. The New York office is home to practice head Kevin Broughel and experienced partner Kevin Logue and global chair of litigation Barry Sher. Broughel and Sher are currently acting for Barclays Bank PLC and affiliates in a putative class action filed by purchasers of supranational, sovereign and agency (SSA) bonds who accuse the bank and other financial institutions of a global, decade-long conspiracy to fix prices and restrain competition in the $9 trillion market. Christopher McGrath in Orange County is acting for Spectrum Pharmaceuticals in a class action arising from the FDA’s failure to approve the company’s application for its ROLONTIS product. Edward Han in Palo Alto also plays a key role in the practice. Samuel Cooper in Houston moved to Shearman & Sterling LLP.
Other key lawyers:
Barry Sher; Kevin Logue; Edward Han; Christopher McGrath
Royal Bank of Canada
Brookfield Investment Management Inc.
Morgan Stanley & Co. LLC
Credit Suisse Securities (USA) LLC
BofA Securities, Inc.
UBS Securities LLC
Acquiom Agency Services LLC
Riot Blockchain, Inc.
J.P. Morgan Securities LLC
The Elastos Foundation
HAP Trading, LLC
Dapper Labs, Inc.
- Defending a putative class action lawsuit filed in the U.S. District Court for the Southern District of New York. The case involves a putative class of purchasers of supranational, sovereign, and agency (SSA) bonds that accused Barclays, and more than 30 other financial institutions, of being involved in a global, decade-long conspiracy to fix prices and restrain competition in the $9 trillion SSA bond market.
- Representing Barclays Capital Inc. in Litovich v. Bank of America, et. al. (Case No.: 20-cv-3154), a putative class action lawsuit filed in April 2020 in the U.S. District Court for the Southern District of New York. The case involves a putative class of purchasers that accuse Barclays and various other banks of being involved in a conspiracy to fix prices and restrain competition on odd-lots of corporate bonds (i.e., bond trades less than $1M in par value) sold in the secondary market.
- Defending an individual shareholder filed a putative class action lawsuit against Airbus SE and certain of its current and former executives in the U.S. District Court for the District of New Jersey.
Vinson & Elkins LLP
Vinson & Elkins LLP represents issuers, underwriters, accounting firms, financial institutions, and directors and officers in securities fraud class actions and other claims associated with stock-price declines. Most prominent in the energy sector, the firm is increasingly involved in cases arising from a diverse range of industries, among them financial services. Michael Holmes in Dallas and Michael Charlson in San Francisco lead the securities and shareholder litigation and enforcement group. Clifford Thau in New York is currently acting for Stronghold Digital Mining, a bitcoin mining company. Also in New York, Lawrence Elbaum has ‘a calm, analytical demeanor coupled with astute business acumen’. He worked with Charlson on the defense of Genius Brands International in securities class actions alleging the company made materially false and misleading statements concerning the its business and business prospects. Dallas-based partners Craig Zieminski and John Wander are lynchpins of the practice.
Michael Holmes; Michael Charlson
Other key lawyers:
John Wander; Craig Zieminski; Clifford Thau; Lawrence Elbaum
‘When the wine glass spills, my first call is Lawrence Elbaum. His calm, analytical demeanor coupled with astute business acumen disguised as an attorney makes him my preferred business confidant.’
‘Lawrence Elbaum’s business judgment and deal-making prowess allow him to balance legal requirements with commercial objectives. With Lawrence, there is no start or stop time, he is constantly accessible.’
‘Experienced and knowledgeable practitioners.’
‘Craig Zieminski is a pleasure to work with. He knows the case and his clients and works efficiently.’
Energy Transfer Equity, LP (ETE)
Republic First Bancorp, Inc.
Regency Energy Partners, LP and related entities
John Lovoi, Paul B. Loyd, Jr., Michael Raleigh, Andrew Taylor, Joseph A. Mills, Anthony Tripodo, JVL Advisors, LLC, and Roan Holdings, LLC
NGP X US Holdings, L.P. (“NGP”)
The Coca-Cola Company
Genius Brands International, Inc., its CEO Andy Heyward, its CFO Robert Denton and members of its Board of Directors
Turtle Beach Corporation
Society for Corporate Governance
Blackwells Onshore I, LLC; Blackwells Capital LLC
Stronghold Digital Mining and two members of its senior management
Ocean Capital, LLC, PRCE Management LLC, William Heath Hawk, Benjamin T. Eiler, Vasileios A. Sfyris, José R. Izquierdo II, Brent D. Rosenthal, Roxana Cruz-Rivera, and Ethan Danial
Winston & Strawn LLP
Winston & Strawn LLP is ‘highly skilled in securities litigation, with strong brief writing and client counselling skills’, best known for representing companies in parallel or civil proceedings following governmental investigations, qui tam lawsuits, and other corporate trauma matters in heavily regulated sectors, such as healthcare and financial services. It also has a strong track record in challenging class certification in securities class actions, which is historically a challenging process. James Smith leads the securities litigation practice and ‘instills confidence – he can be put before senior management and board with confidence they will be impressed’. Key partner Matthew DiRisio provides ‘accurate, practical advice delivered in a timely, efficient manner’. Smith is currently representing global medical technology company Becton, Dickinson and Company in a securities fraud class action alleging that the company made material misrepresentations and omissions surrounding the regulatory status of its Alaris infusion pump.
Other key lawyers:
‘Great communication and depth of knowledge.’
‘Highly skilled in securities litigation, with strong brief writing and client counselling skills.’
‘Easy to speak with and responsive.’
‘Hardworking, intelligent group of lawyers. Depth of resources is a big differentiator for them.’
‘James Smith instills confidence – he can be put before senior management and board with confidence they will be impressed.’
‘Matthew DiRisio provides accurate, practical advice delivered in a timely, efficient manner.’
‘The team was prompt in responding to our inquiries and assisting in the requested matters. They also had strong knowledge of the issues at hand and even had institutional knowledge of some of the plaintiffs active in the space that we were interfacing with.’
‘Matthew DiRisio was particularly helpful on Section 16 matters – he was clearly very familiar with the matters at issue and provided quick and prompt advice in how to deal with them and assistance in preparing necessary responses based on his research and knowledge.’
Becton, Dickinson and Company
Cantor Fitzgerald, L.P., and certain executives including its CEO and Chairman
Harlan Chappelle and Michael Ellis, former officers of Alta Mesa Resources, Inc.
Jernigan Capital, Inc., n/k/a NexPoint Storage Partners Inc.
Macquarie Infrastructure Corporation (MIC)
Momentus, Inc.’s Chief Revenue Officer (“CRO”) and Former Interim-CEO and Director
Pendrell Corp. and certain executives incl. its founder & Chairman
Semiconductor Manufacturing International Corp. (“SMIC”)
- Representing Cantor Fitzgerald and various affiliates, officers and directors in a securities class action in the Northern District of California related to the $1.6B de-SPAC merger between CF Finance Acquisition Corp. II and View, Inc. The action arises out of a post-de-SPAC financial restatement by View and associated audit committee investigation.
- Scored a complete victory for Macquarie Infrastructure Corporation (MIC) and several of its current and former officers and directors, securing a pleadings-stage dismissal with prejudice of all claims in a federal securities fraud class action in the Southern District of New York arising from MIC’s 2017 financial results and dividend guidance for 2018, which caused a more than $2B drop in MIC’s market capitalization in a couple of hours.
- Secured a major victory for Semiconductor Manufacturing International Corporation (SMIC)—China’s largest chipmaker—when the Central District of California granted SMIC’s motion to dismiss, with prejudice, a high-profile consolidated federal securities class action stemming from SMIC’s late-2020 “blacklisting” by the Trump Administration in its entirety and without leave to amend.
Since arriving in 2018, practice head Douglas Greene of BakerHostetler in New York has built a securities and governance litigation group that works closely with the firm’s government enforcement, bankruptcy, class action defense, electronic discovery and trial practices to handle high-stakes matters. He is currently acting for Uphold Inc. and its affiliates in a case brought by investors in an offshore initial coin offering conducted by the Universal Protocol Alliance, who allege that tokens promoted and sold by Uphold were actually securities under US securities law, and thus statements to the contrary in the TSAs were misleading. Greene and Genevieve York-Erwin, who works in both Seattle and New York, are defending Eagle Bancorp and current and former executives in a securities class action alleging that the Company’s 10-K reports and other public statements and disclosures contained materially false or misleading statements. Greene and Cleveland-based Douglas Shively are defending electric vehicle start-up Lordstown Motors Corp. in a consolidated securities class action in Ohio.
Other key lawyers:
Genevieve York-Erwin; Douglas Shively
Eagle Bancorp, Inc.
Directors and Officers of Pareteum Corporation
Lordstown Motors Corp.
Annovis Bio, Inc.
Pulse Biosciences, Inc.
Charles E. Jones
Uphold LTD, Uphold, Inc., Uphold HQ Inc, and Juanpablo Thieriot
Fenwick & West LLP
Fenwick & West LLP in San Francisco has an outstanding client base in the technology sector, prime examples being Cisco Systems and DocuSign. The firm is ‘committed, creative and determined’ in its defense of high-stakes matters. Dean Kristy, who co-leads the practice with Felix Lee, worked with key partner Jennifer Bretan to defend Cisco in a breach of fiduciary duty case that alleges the company made misstatements about its diversity goals and initiatives, focusing on racial diversity, in proxy statements, corporate social responsibility reports, and on its website. The pair also worked with Lee to defend DocuSign in one of the first suits regarding alleged misrepresentations regarding the effect of the Covid-19 pandemic on a company’s results. Key partner Catherine Kevane’s work includes a critical class action for Sema4 Holdings. Michael Dicke in Silicon Valley also plays a central role in the practice.
Dean Kristy; Felix Lee
Other key lawyers:
Jennifer Bretan; Catherine Kevane; Michael Dicke; Jay Pomerantz
‘The team at Fenwick led by Jay Pomerantz were incredibly empathetic and supportive. They went out of their way to explain the intricacies of the situation and the pros/cons of every potential decision. This was a new world for me so their patience and support went a long way to making me feel comfortable that I was represented well. Their defence was committed, creative and determined. They looked for every opportunity to demonstrate that I should have never been included in the claim and ultimately because of their efforts I was dropped.’
‘Jay Pomerantz who was the key person on the file from Fenwick went above and beyond in every way. He was incredibly empathetic and as the wheels of justice were grinding, he helped me be fully informed and helped reduce fears and concerns about our direction. He helped me fully understand and context of all actions which was very helpful to my personal anxiety. He demonstrated that he is extremely experienced by working with others who were included in our claim to collaborate to establish a join defence arrangement that ultimately became very key in the positive outcome for me.’
Yuga Labs, Inc. (dba Bored Ape Yacht Club)
- Representing Cisco and its board in connection with diversity lawsuits filed in federal and state court. The plaintiffs allege that defendants violated the federal proxy statute (Section 14(a) of the Securities Exchange Act of 1934) and breached fiduciary duties by allegedly making misstatements about its diversity goals and initiatives, focusing on racial diversity, in proxy statements, corporate social responsibility reports, and on its website. We won the federal case by obtaining a dismissal with prejudice; we also won the state court case, which is now on appeal.
- Representing TRON, one of the largest blockchain-based operating systems in the world, and its founder Justin Sun in a securities class action filed April 3, 2020 alleging defendants offered and sold billions of dollars’ worth of unregistered securities in the form of tokens.
- Representing DocuSign and its officers and directors in defense of a securities class action pending in the Northern District of California. The case is one of the first suits regarding alleged misrepresentations regarding the effect of the Covid-19 pandemic on a company’s results and outlook.
Hughes Hubbard & Reed LLP
Hughes Hubbard & Reed LLP ‘has excellent legal skills and deep knowledge in multi-jurisdictional matters, combining a direct approach in communication with both the court, counterparties and the client with the ability to come up with solutions to complex problems that do not increase the level of conflict’. Kevin Abikoff in Washington DC and, in New York, Shahzeb Lari and Marc Weinstein lead the 18-partner securities litigation group. Weinstein and New York-based Daniel Weiner are defending Stuart Fraser, Vice Chairman of Cantor Fitzgerald, in aiding-and-abetting liability claims as part of a securities fraud class action civil suit accusing two cryptocurrency mining companies. Weinstein and key partner William Maguire, who is acting for Deloitte and Touche LLP in a class action alleging it fraudulently misstated its financial statements, are ‘experienced litigators who are able to come up with alternatives on strategy and negotiations’.
Kevin Abikoff; Shahzeb Lari; Marc Weinstein
Other key lawyers:
William Maguire; Daniel Weiner
‘The team has excellent legal skills and deep knowledge in multi-jurisdictional matters. At the same time they combine a direct approach in communication with both the court, counterparties and the client with the ability to come up with solutions to complex problems that do not increase the level of conflict. They never put them self first – always the client before their ego.’
‘I have worked extensively with Bill Maguire and Marc Weinstein over the last 5 years. They are all very experienced litigators who are at the same time able to come up with alternatives on strategy and negotiations. They are hands-on, always available, has a real interest in understanding the client’s special interests in a case and as persons very pleasant to work with. I would at anytime recommend them for complex US matters including multi-jurisdictional matters.’
Former Nikola CEO Trevor Milton
ProPetro Holding Corp.
ProPetro Holding Corp.
Deloitte & Touche LLP
Sellas Life Sciences Group, Inc. (f/k/a Galena Biopharma, Inc.)
Sellas Life Sciences Group, Inc. (f/k/a Galena Biopharma, Inc.)
Pioneer Natural Resources Company
Deloitte Touche Tohmatsu Limited
Securities Industry and Financial Markets Association (SIFMA)
Syracuse Mountains Corporation
Aris George Michalopoulos
Santander Consumer USA Holdings, Inc.
Kensington Capital Acquisition Corp.
- Representing Stuart Fraser, Vice Chairman of Cantor Fitzgerald, in a securities fraud class-action civil suit accusing two cryptocurrency mining companies, GAW Miners and ZenMiner, and their founder, Josh Garza, of defrauding customers and investors in a Ponzi scheme. On November 3, 2021, we obtained a full defense verdict.
- In a case receiving national media coverage, including the covers of the NYT and WSJ, the firm is representing Nikola founder Trevor Milton in parallel DOJ and SEC actions alleging wire fraud and securities fraud related to the startup truck maker. On July 29, Milton pleaded not guilty to criminal charges of misleading investors about Nikola’s technology for battery-electric and hydrogen fuel cell vehicles.
- Representation of ProPetro Holding Corp. and its officers and directors in securities class action, related derivative shareholder litigation and government investigation relating to internal controls issues.
Kaplan Hecker & Fink LLP
Boutique litigation firm Kaplan Hecker & Fink LLP in New York has a reputation for securing favourable results for its clients, among them leading financial institutions and commercial businesses, in securities enforcement proceedings and complex securities litigation matters. For regulatory mandates, the firm calls upon six former federal prosecutors, among them Jenna Dabbs and Mike Ferrara who served as members of the Securities and Commodities Fraud Task Force. For securities litigation, the practice is led by Sean Hecker, who continues to represent Stefan He Qin, the founder of cryptocurrency hedge fund manager Virgil Capital, in a securities fraud case and a parallel SEC enforcement action. Up-and-coming partner Shawn Crowley also plays a key role in that case. Key litigators Roberta Kaplan and John Quinn continue to act for Natixis S.A. in a residential mortgage-backed security repurchase lawsuit. Marshall Miller left to take up the post of Principal Associate Deputy Attorney General at the DOJ.
Other key lawyers:
Shawn Crowley; Roberta Kaplan; John Quinn; Jenna Dabbs; Mike Ferrara
Stefan He Qin
John Patrick Gorman III
- Representing former Iconix Brand Group CEO Neil Cole in his re-trial on securities fraud charges, alleging that he inflated Iconix’s revenue by $11 million in 2013 and 2014.
- Defending Natixis S.A. in a residential mortgage-backed security (RMBS) “repurchase” lawsuit brought by a separate securities administrator on behalf of investors in the relevant transaction.
- Representing John Patrick Gorman III, who was sued by the Commodity Futures Trading Commission for allegedly manipulating the prices of U.S. dollar interest-rate swap spreads while working as the head of non-yen rate trading for Nomura.
Kasowitz Benson Torres LLP
The securities litigation practice at Kasowitz Benson Torres LLP in New York is ‘incredibly knowledgeable about the cases they work on but what sets them apart is the focus on resolution strategy’. Sheron Korpus, Michael Hanin and Stephen Tountas are the lead partners. Korpus and emerging partner talent Andrew Schwartz ‘work well as a team, Andrew having the detail at his fingertips whilst Sheron is able to focus on the strategy’. They negotiated a $420m settlement in a major securities class action and numerous direct actions for Teva Pharmaceuticals, the world’s largest generic drug manufacturer, which was accused of misleading disclosures regarding the pricing of its drugs. Highlights for Tountas include defending Prem Parameswaran, the former CFO of Eros Int’l, in connection with a putative securities class action arising from a series of alleged misrepresentations.
Sheron Korpus; Michael Hanin; Stephen Tountas
Other key lawyers:
‘Incredibly knowledgeable about the cases they work on but what sets them apart is the focus on resolution strategy’
‘Sheron Korpus and Andrew Schwartz work well as a team, Andrew having the detail at his fingertips whilst Sheron is able to focus on the strategy. They are an incredible team when at mediation and lethal in depositions’.
Howard Meyers, chairman of Eco-Bat Technologies
Prem Parameswaran, the former CFO of Eros Int’l
- Representing Teva Pharmaceuticals and its individual directors and officers in defense of one of the largest securities class actions currently pending as well as the more than 20 related direct actions, filed on behalf of more than 75 opt-out plaintiffs.
- Represented Gerard Hug, the former Chief Executive Officer of SITO Mobile, a mobile data advertising company, in a federal securities fraud civil enforcement action brought by the SEC, alleging that Mr. Hug engaged in fraud by improperly charging expenses to corporate accounts, which caused the company to materially understate Mr. Hug’s executive compensation. The District Court of New Jersey granted Kasowitz’s motion to dismiss the complaint in its entirety.
- Representing Prem Parameswaran, the former CFO of Eros Int’l, in connection with a putative securities class action arising from a series of alleged misrepresentations.
Kramer Levin Naftalis & Frankel LLP
Kramer Levin Naftalis & Frankel LLP’s New York office is home to a broad litigation practice for which securities cases are a significant source of work. Gary Naftalis, Barry Berke and, in Washington DC, Gary Orseck lead the practice. Orseck joined the firm through its merger with Robbins, Russell, Englert, Orseck & Untereiner LLP, which also brought in experienced partner Matthew Madden. Orseck and Madden are acting for Universal Health Services, in a derivative suit alleging securities fraud, breach of fiduciary duty and other claims relating to alleged improper patient-admission practices at UHS-affiliated behavioral health facilities. Michael Dell in New York represented Deloitte LLP (UK) and related entities in a case alleging that a Russian member firm of Deloitte Touche Tohmatsu Limited engaged in fraud, negligence, and other misconduct in its consulting and audit work for Investment Trade Bank. The case was successfully settled in 2022. Key partner John Coffey left for the US Department of Navy.
Gary Naftalis; Barry Berke; Gary Orseck
Other key lawyers:
Michael Dell; Matthew Madden
Deloitte LLP (UK), Deloitte CIS Limited, and Deloitte CIS Holdings Limited
Centerbridge Partners, LP
Centripetal Networks Inc./Option3
Town of Ramapo
Five former Fusion Telecom directors: Philip Turits, Larry Blum, Jack Rosen, Paul O’Brien, William Rubin
Officers and Directors of Universal Health Services
Plantronics, Inc. and certain Officers and Directors
- Represented the UK-Deloitte Defendants in defense of allegations by the Plaintiff, Starr Russia Investments III, B.V., that the UK-Deloitte Defendants’ purported alter ego, ZAO Deloitte & Touche CIS, a Russian member firm of Deloitte Touche Tohmatsu Limited, engaged in fraud, negligence, and other misconduct in its consulting and audit work for Investment Trade Bank (“ITB”), a Russian bank in which the plaintiff invested.
- Represented Centerbridge, a multi-strategy private equity firm based in New York that manages more than $25 billion of assets and focuses on leveraged buyouts and distressed securities.
- Defended UHS’s officers and directors in this derivative suit in the E.D.Pa., alleging securities fraud, breach of fiduciary duty, and other claims, relating to alleged improper patient-admission practices at UHS-affiliated behavioral health facilities throughout the country. In August 2019, after multiple rounds of briefing, Judge Joel Slomsky dismissed the plaintiff’s claims in their entirety.
McDermott Will & Emery LLP
McDermott Will & Emery LLP has an ‘outstanding securities litigation defense team, both in SEC regulatory and civil litigation matters’. The firm is best known for its work in class action matters in the key fora of New York, Delaware, Massachusetts, California, Illinois and Washington DC. Its client base spans a range of industries including energy, venture capital, investment banking, entertainment and accounting. Timothy Hoeffner in New York and Steven Scholes in Chicago are the lead partners. Scholes and ‘outstanding defense attorney’ Paul Helms, in Washington DC, are acting for seven former officers and directors of PG&E in a high-profile breach of fiduciary duty action originally filed as several shareholder derivative actions arising from the 2017 and 2018 wildfires in Northern California. Hoeffner achieved the dismissal of claims against accounting firm BDO in In re AmTrust Financial Services Inc., Securities Litigation. Seth Friedman is also recommended for defending accounting firms. New York's Joel Haims joined the team from Morrison Foerster in June 2022.
Timothy Hoeffner; Steven Scholes
Other key lawyers:
Seth Friedman; Paul Helms; Joel Haims
‘Outstanding securities litigation defense team, both in SEC regulatory and civil litigation matters.’
‘Two standout partners are Steve Scholes who heads the practice (and who I have known and worked with several decades) and Paul Helms who has developed into an outstanding defense attorney.’
Seven former Officers and Directors of PG&E Corp. and Pacific Gas and Electric Co.: Kevin Dasso, Anthony Earley, Jr., Patrick Hogan, Christopher Johns, Gregg Lemler, Steve Malnight, and Geisha Williams
Eight current and former Officers and Directors of PG&E Corp.: Anthony Earley, Jr., Patrick Hogan, Christopher Johns, Julie Kane, Dinyar Mistry, Nickolas Stavropoulos, David Thomason, and Geisha Williams
Robert Reffner (Former Chief Legal Officer of FirstEnergy Corp.)
Baxter International Inc.
Healthcare Trust of America, Inc. (“HTA”)
Land O’Frost (“LOF”) CEO and Board Chairman, David Van Eekeren (“Van Eekeren”)
BDO USA, LLP
Sage Associates, Sage Realty, Malcom Sage, Martin Sage, Ann Sage Passer
- Representing seven former officers and directors of Pacific Gas & Electric (PG&E) in a high-profile breach of fiduciary duty action originally filed as several shareholder derivative actions. The claims subsequently were assigned to a trust (the “Fire Victim Trust”) established in connection with PG&E’s bankruptcy, for the benefit of the victims of the 2017 and 2018 wildfires in Northern California. | |We also represent eight current and former officers and directors of PG&E Corp. in a class action with estimated damages exceeding $18 billion. The action was filed on behalf of a putative class of PG&E Corp. shareholders against PG&E, our clients, certain former outside directors, and underwriters, for alleged misrepresentations and omissions to shareholders and bondholders concerning various issues relating to the 2017 and 2018 wildfires in Northern California.
- Representing Robert Reffner, the former Chief Legal Officer of FirstEnergy Corp., one of the nation’s largest investor-owned electric systems, in three derivative actions: one pending in Ohio state court, one pending in the Northern District of Ohio, and one pending in the Southern District of Ohio. | |We also represent Robert Reffner in a federal class action arising out of the same alleged scheme to bribe the Speaker of the Ohio State House of Representatives for favorable legislation and the Chairman of the Public Utilities Commission for beneficial regulatory action.
- Representing BDO USA, LLP in a series of matters relating to the failed Platinum family of hedge funds. In re AmTrust Financial Services Inc., Securities Litigation is a securities class action in the Southern District of New York.
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. has a national reputation in securities litigation, supported by its network of offices across the US. Jack Sylvia, who is representing Butterfly Networks in a securities class action, and Adam Sisitsky in Boston are co-chairs of securities litigation. Douglas Baumstein and Jason Vigna are the key contacts in New York. Baumstein, who leads the firm’s working group on SEC guidance on ESG disclosures, successfully represented Advance Auto Parts in a class action alleging that the company inflated fiscal year 2017 guidance in public statements. A derivative action was dismissed in early 2022 and the remaining claims were successfully settled. Vigna successfully defended BTA Bank against a Section 10(b) securities fraud suit filed by bondholders who claim that the bank improperly failed to inform investors of a negative carry swap. Sean Prosser in San Diego is defending Fulgent Genetics, Inc. and its CEO and CFO in connection with a 34 Act shareholder class action concerning allegedly unnecessary laboratory testing and fraudulent billing practices.
Jack Sylvia; Adam Sisitsky
Other key lawyers:
Douglas Baumstein; Jason Vigna; Sean Prosser
Advance Auto Parts
Kingston Diversified LLC
BTA Bank JSC
Chemtov Mortgage Group
JMP Group, Inc.
- Secured a Motion to Dismiss on behalf of Advance Auto Parts in a securities class action, claiming breach of fiduciary duty and unjust enrichment violations, as well as hundreds of millions of dollars in damages.
- Representing Kingston Diversified LLC, a Delaware entity, in a federal court enforcement lawsuit brought by the SEC. Most recently, the team secured a motion to dismiss against the SEC – an exceedingly rare and difficult task. The SEC appealed, and the case is currently pending.
- Representing a former executive of a large kidney dialysis provider in charges brought by the SEC accusing the company of a multimillion-dollar scheme to fraudulently manipulate its financial records.
Morvillo Abramowitz Grand Iason & Anello P.C.
New York firm Morvillo Abramowitz Grand Iason & Anello P.C. is a long-established litigation boutique that handles white-collar defense, regulatory enforcement, business and securities litigation. Its work in class action, derivative suits and civil securities fraud cases, as well as its prowess in SEC enforcement matters, is based on the strength of its trial capability. More than a quarter of the firm’s partners are Fellows of the American College of Trial Lawyers. ‘They are zealous advocates and have obtained excellent results’, remark clients. Practice head Edward Spiro and ‘go-to lawyer’ Robert Anello are represented the founder and CEO of a public company in approximately 20 class action and derivative suits relating to allegations of stock manipulation. All matters were settled in 2022. Leading white-collar criminal defense partner Elkan Abramowitz also plays a pivotal role in both civil and criminal cases, and former federal prosecutor Christopher Harwood is also prominent in both investigations and litigation.
Other key lawyers:
Robert Anello; Elkan Abramowitz; Christopher Harwood
‘Our experience using MAGIA in securities litigation defense has been excellent. They are zealous advocates and have obtained excellent results.’
‘Bob Anello is our go-to lawyer for securities litigation defense. His tireless advocacy has been just what we need in getting excellent results.’
Co Corporate and Individual Defendants in Black v. Pheonix Cayman
Proskauer Rose LLP
Proskauer Rose LLP has seen many changes to its practice recently with the retirement of key partners Ann Ashton and Ralph Ferrara in 2022, but the firm retains significant expertise across its office network. Practice head Timothy Mungovan in Boston has an international practice that combines securities litigation and complex commercial litigation on behalf of public and private companies. He obtained the dismissal of claims against Shamrock Capital Advisors arising from its investment in FanDuel, a bookmaker and fantasy sports provider. Jonathan Richman in New York represented Bed Bath & Beyond in a securities class action alleging that the defendants had made false or misleading statements about its plans to manage and reduce inventory – a strategy that purportedly caused the company to incur losses during the 2019 holiday season.
Other key lawyers:
‘Tim Mungovan is one of the smartest people I have ever met and worked with.’
Shamrock Capital Advisors
Several large hedge fund advisers (over $10B AUM)
Bed Bath & Beyond Inc.
Vida Longevity Fund/Vida Capital
Gigafund Management Company, LLC
Indus Capital Partners
.406 Ventures Management and Sparta Group
- Represented Bed Bath & Beyond and several present or former officers and directors in a securities class action in the U.S. District Court for the District of New Jersey claiming our clients made false and misleading statements about the company’s plan to manage and reduce inventory.
- Representing Gigafund Management Company as its regulatory and compliance counsel on a wide range of matters including management and disclosure of conflicts, compliance controls and insider trading/MPNI matters, investor matters and platform growth.
- Successfully represented Shamrock Capital Advisors, a private equity firm in defense of claims, including breach of fiduciary duty and aiding and abetting breach of fiduciary duty, related to the sale of a portfolio company for hundreds of millions of dollars.
Quinn Emanuel Urquhart & Sullivan, LLP
Known for its plaintiff work, Quinn Emanuel Urquhart & Sullivan, LLP joins the ranking having played a key role in the defense of diverse and high-stakes securities matters. Harry Olivar and Jeremy Andersen in Los Angeles, and New York partners Andrew Rossman, Jonathan Pickhardt and Daniel Brockett are the standout practitioners with extensive experience on both sides of the aisle. Olivar is currently acting for Mammoth Energy Services in several actions arising from the indictment of the officer of a subsidiary, who is accused of providing items of value to a FEMA official in order to obtain restoration/repair work in Puerto Rico in the wake of Hurricane Maria. Three actions have been settled on favorable terms. He is also advising Sequoia Capital on a series of putative class actions filed in California state and federal court against DropBox, Inc., alleging securities violations arising out of Dropbox’s IPO.
Harry Olivar; Jeremy Andersen; Andrew Rossman; Jonathan Pickhardt; Daniel Brockett
Schulte Roth & Zabel LLP
Schulte Roth & Zabel LLP has a long-standing reputation for representing clients in large securities class actions, and related derivative litigations and ERISA actions. The firm advises more than half of the world’s 100 largest hedge funds and thousands of funds globally, giving it a prominent role in investment funds matters. It has also become a key player in ‘short swing’ cases alleging violations of Section 16(b) of the Securities Exchange Act, and in matters involving structured finance and SPAC-related transactions. The practice is led by Michael Swartz and Gayle Klein in New York, along with Peter White in Washington DC. Swartz is acting for two former members of the Board of Directors of a special purpose acquisition company in a putative shareholder class action lawsuit alleging violations of numerous federal securities laws in connection with a merger between the publicly-traded SPAC and Arrival SA, a privately-held manufacturer of commercial electric vehicles. Charles Clark is recommended for SEC investigations and ensuing litigation.
Michael Swartz; Gayle Klein; Peter White
Other key lawyers:
Republic First Bancorp, Inc.
The Children’s Investment Master Fund
Engine No. 1
Nover Ventures LLC
Saba Capital Management, L.P.
Hudson Bay Capital Management LP
Murchinson Ltd., Marc Bistricer and Paul Zogala
- Representing Eric Bischoff in two litigations among the shareholders of the iconic Boar’s Head.
- Representing Albertsons Companies against a suit brought by DineInFresh Inc. in connection with the earnout provision of a merger agreement.
- Represented four of the eight members of the Board of Directors of Republic First Bancorp in a dispute with the other four Board members.
Seyfarth Shaw LLP
Seyfarth Shaw LLP has ‘a strong team up and down the line – no gaps’, according to clients, who note that the firm has ‘impressive breadth of knowledge and experience’. William Prickett in Boston and New York partners Gregory Markel and Vincent Sama are co-chairs of the securities and fiduciary duty litigation practice. Markel, who is ‘among the most respected, learned and admired lawyers in the field of securities litigation’, acted for officers and directors of a tech company in Silicon Valleys in two 10b5 cases alleging misrepresentations and omissions concerning the prospects for the company. The case ultimately settled after five years of litigation. Sama is acting for inpatient and outpatient substance use treatment services provider AAC Holdings in a securities class action and a related litigation-trustee matter arising out of the company’s bankruptcy. Co-chair of the firm’s national whistleblower team Christopher Robertson is ‘incredibly calm through difficult and tumultuous times’.
William Prickett; Gregory Markel; Vincent Sama
Other key lawyers:
‘A great litigation team.’
‘Greg Markel has been a trusted advisor for years and is very knowledgeable about all areas of litigation, especially securities litigation and special committees.’
‘Strong team up and down the line – no gaps.’
‘Christopher Robertson was incredibly calm through a difficult tumultuous time and led us to victory.’
‘Top ten all around. Impressive breadth of knowledge and experience.’
‘Gregory Markel is among the most respected, learned and admired lawyers in the field of securities litigation. Top Ten without a doubt. His annual CLEs at the City Bar are required for any attorney who hopes to succeed in this area. You miss them at your peril. Greg has been involved in some of the most important cases you ever heard of and even many you never have. He is a fierce advocate for his clients. He is also, perhaps most importantly, a gentleman.’
Rising Tide I and Rising Tide II and Abdo v. Individual Officers and Directors
AAC Holdings, Inc.
Special Committee of ArborWorks
Prudential Financial, Inc. and Eric Schwimmer
Assurance, Inc. (“Assurance”), which was purchased by Prudential, Inc. in 2019
Special Committee of Board of Large United States Bank
Expert Witness report for foreign litigation
Large foreign based international bank and its subsidiary United States bank
- Represented individual directors and officers in two similar but separate securities actions filed alleging violations of Rule 10 b-5 and state law. Plaintiffs claim that nine individual defendants affiliated with a bankrupt e-commerce and t-commerce company, made misrepresentations and omissions concerning the prospects for the company.
- Representing AAC Holdings, Inc., a Tennessee based company that provides inpatient and outpatient substance use treatment services for individuals with drug addiction, alcohol addiction, and co-occurring mental/behavioral health, in a securities class action and a related litigation-trustee matter arising out of the company’s bankruptcy. The matters are currently in the discovery phrase.
- Performed a broad scale investigation into a cyber-security attack, multiple instances of wire fraud and allegations of self-dealing by members of senior management on behalf of the special committee of the company.
White & Case LLP
White & Case LLP’s New York office is home to a large commercial litigation practice for which securities cases are an increasingly important feature. One client notes that ‘the litigation team has a unique sense of urgency and has demonstrated a deep understanding of international issues to deal with in US cases’. Practice head Glenn Kurtz has a strong reputation in this arena and is involved in cutting-edge mandates, such as handling a SPAC-related matter for FAST Acquisition Corporation. Key partner Kim Havlin, who continues her rapid rise as a first-chair trial lawyer, ‘has an outstanding level of response, is practical to deal with issues and resolves problems in fast-paced scenarios, and is always ready to help’. She is leading the defense of Loma Negra, Argentina’s largest manufacturer of cement, in a series of securities class actions alleging that it downplayed corruption scandals in its IPO materials.
Other key lawyers:
‘The litigation team has a unique sense of urgency and has demonstrated a deep understanding of international issues to deal with in US cases.’
‘Kim Havlin has an outstanding level of response, is practical to deal with issues and resolves problems in fast-paced scenarios, and is always ready to help.’
Transocean Inc. and Transocean Ltd.
Tufin Software Technologies, Ltd.
Netfin Acquisition Corporation Executives
Authentix Acquisition Company, Inc.
FAST Acquisition Corp.
- Led a successful opposition to class-certification on behalf of Toshiba in a high-profile securities class action. Convinced the court that a proposed class of US American Depository Receipt (ADR) holders could not proceed because the proposed named plaintiff for the class did not purchase Toshiba securities in the United States, as required under the Exchange Act.
- Represented Transocean in obtaining expedited summary judgment in a breach of contract dispute. The disputes surrounds Whitebox Relativity Value Partners and other bondholders attempts to overturn our client’s exchange offer and trigger a debt default.
- Representing Loma Negra in a series of securities class actions brought before federal and state courts. The plaintiffs allegations surround disclosures Loma Negra made in its IPO materials and business decisions when faced with declines in the Argentinian economy and value of the company stock price.
Ballard Spahr LLP
The Philadelphia office of Ballard Spahr LLP is home to partners with extensive experience in securities litigation, who frequently advise companies and their officers and directors on everything, from derivative actions and regulatory or internal investigations to special committee representations and shareholder class actions. Practice leader David Axelrod (who is ‘an up-and-coming national legal star’) is the standout partner, having a long-standing reputation as a first-chair trial lawyer for the defense in government-facing litigation involving the SEC and DOJ. He is currently representing the former CFO of First Energy in a case arising from allegations that the company paid bribes for political influence. Norman Goldberger, who co-leads the firm’s municipal securities regulation and enforcement team, experienced regulatory litigator John Grugan and Timothy Katsiff (who ‘has terrific judgment, is extremely knowledgeable, and responds promptly’) are also pivotal figures in the practice. Goldberger assisted Wrap Technologies with securities fraud litigation in California, and shareholder derivative litigation.
Other key lawyers:
Norman Goldberger; John Grugan; Timothy Katsiff
‘The team has a good pulse on the federal court in the Eastern District of Pennsylvania. Their advice is practical and also takes into account commercial considerations.’
‘Tim Katsiff is an outstanding lawyer. He has terrific judgment, is extremely knowledgeable, and responds promptly.’
‘Provides outstanding tactical advice across all sectors, excellent judgment, and provides outstanding defense to its clients’
‘David Axelrod is an up-and-coming national legal star in the United States in the areas of securities litigation, civil litigation, media and entertainment, and government investigations (SEC, FINRA, DOJ). He provides outstanding advice and deploys supreme tactical judgment to defend and represent his clients’ most important interests.’
Bracewell LLP in Texas frequently handles shareholder derivative lawsuits, as well as appearing before regulatory agencies and representing individuals providing grand-jury testimony and law-enforcement interviews. The team frequently handles high-stakes SEC and DOJ matters, as well as the consequent securities litigation on behalf of public and private companies, underwriters, boards of directors and individual executives and officers. Much of its work is for energy companies and their financial advisors. Practice head Tony Visage in Houston recently defended a class action against directors and founders of Think Finance, Inc., alleging that the company’s loans were improperly made through “tribal lending entities”. Stephen Benesh in Austin has a national securities litigation practice, and recently acted for The Bank of New York Mellon Trust in a securities class action concerning Pacific Coast Energy Company’s asset retirement obligation estimates. Bradley Benoit and chair of the financial institution litigation practice Bryan Dumesnil, both based in Houston, also play key roles in the practice.
Other key lawyers:
Stephen Benesh; Bradley Benoit; Bryan Dumesnil
‘I was 100% pleased with my Bracewell attorney, Tony Visage, who kept us totally informed every step of the way. Even when the company said that they had legal opinions from three major law firms that we were wrong, and they were right, Tony stood his ground. He consulted regularly with others in the Bracewell firm when areas beyond his expertise came up, or where he sought reinforcement of his legal opinion. At every juncture we had confidence in his handling of our case.’
Stephen J. Shaper
Pilot Water Solutions LLC
Southern Copper Corporation
The Bank of New York Mellon Trust Company, N.A.
The Bank of New York Mellon and certain of its trusts and trustees
Gates Capital Management
- Representing Stephen J. Shaper and certain other directors and founders of Think Finance, Inc. against allegations of RICO violations, violations of state usury laws, unfair competition and unjust enrichment.
- Defended Pilot Water Solutions LLC (PWS) – a subsidiary of the Pilot Travel Centers LLC – in a suit by a minority interest holder to enjoin a significant transaction from closing.
- Representing Southern Copper Corporation in a derivative lawsuit relating to certain construction contracts, contracts for the purchase and sale of minerals and transportation contracts.
Seward & Kissel LLP
New York firm Seward & Kissel LLP acts for domestic and foreign private issuers, investment advisers, investment funds, prime brokers, underwriters, financial institutions and private investors in a broad range of work that encompasses class actions, derivative claims, market manipulation cases and short swing profit matters. The firm has significant presence in the financial services and public shipping sectors, counting United Overseas Bank and US Bank National Association among its clients. Michael G Considine, who is advising United Overseas Bank on a putative class action concerning alleged manipulation of the Singapore Interbank Offered Rate and Singapore Swap Offer Rate, and Bruce G Paulsen are the lead partners. Jack Yoskowitz plays an increasingly prominent role in the practice and is currently acting for Tocqueville Management Corporation, its founder and minority shareholder asserts claims of breach of fiduciary duty and unjust enrichment.
Michael Considine; Bruce Paulsen
Other key lawyers:
Tocqueville Management Corporation (nominal defendant); Tocqueville Asset Management; Robert Kleinschmidt; Alexander Kleinschmidt; Lara Kleinschmidt; Andrew Kleinschmidt; Annie Kleinschmidt; Nell Kleinschmidt; The Robert W. Kleinschmidt Irrevocable Dynasty Trust
Capital Credit Master Fund, Ltd., f/k/a Sancus Capital Blue Credit Opportunities Fund, Ltd. (“Sancus”)
U.S. Bank National Association
Fairholme Capital Management, L.L.C., Fairholme Funds, Inc., and Bruce Berkowitz
United Overseas Bank, Ltd.
- Advised Tocqueville Asset Management and its principals in connection with books and records requests by minority investor founder and subsequent lawsuit seeking over $100 million in alleged damages to his investment.
- Advised Aksia LLC in connection with a class action brought by a class of Pennsylvania public-school teachers who participated in a retirement plan for employees of the Pennsylvania public school system against various plan advisors.
- Advised U.S. Bank National Association, as indenture trustee, in successfully defending Trust Indenture Act and other claims brought by the holder of subordinated notes issued by the ACIS-6 CLO arising out the alleged mismanagement of the CLO.
Stradling Yocca Carlson & Rauth
Stradling Yocca Carlson & Rauth in Newport Beach has ‘deep knowledge of SEC enforcement matters and process for public corporate entities’, and ‘provides proactive advice on legal strategy’. Jason De Bretteville, Kathleen Marcus and Marc Schneider lead the practice. Schneider is representing mobile game developer Playtika in a $750m stock drop class action and a shareholder derivative suit arising out of statements the company allegedly made in relation to its two most successful games, Slotomania and Bingo Blitz. Marcus, who is ‘outstanding in her knowledge of SEC enforcement matters’, is working with Schneider to defend Stuart Frost and the Frost Management Company in matters arising out of the collapse of this venture studio and the resulting loss of more than $250m invested in the affiliated funds.
Jason de Bretteville; Kathleen Marcus; Marc Schneider
‘Deep knowledge of SEC enforcement matters and process for public corporate entities.’
‘Proactive advice on legal strategy, and ongoing interaction, in dealing with the SEC enforcement division and related investigation. Kathleen Marcus leads a very experienced team. Kathleen is outstanding in her knowledge of SEC enforcement matters.’
Playtika (NAS: PLTA)
Gil Champion & Bick Le (POW! Entertainment)
- Representing Playtika, a mobile game developer, in a $750 million stock drop class action and a shareholder derivative suit arising out of statements the company allegedly made in relation to its two most successful games, Slotomania and Bingo Blitz.
- Secured an extremely favorable settlement on behalf of Bick Le and Gil Champion (co-founder of POW! Entertainment, along with Arthur Lieberman and former Marvel Comics editor and publisher Stan Lee), in a securities class action arising out of the sale of POW! Entertainment, Inc. to Camsing International Holding, a China-based entertainment company.
- Representing Stuart Frost and the Frost Management Company in an SEC litigation matter arising out of the collapse of this venture studio and the resulting loss of more than $250 million invested in the affiliated funds and invested by venture capital funds in the portfolio companies.
Vedder Price’s Chicago office is well known for its prowess in SEC and DOJ investigations and enforcement actions, in which it is ‘very practical and strategic in its approach, as well as being excellent at collaboration and cost-efficient’. Thomas Cimino is chair of the firm’s overall litigation practice and also the financial services litigation practice group, of which the securities litigation practice is a key part. His experience in state and federal trial and appellate courts includes high-stakes securities fraud class actions and shareholder disputes. Randall Lending has extensive jury trial, bench trial, arbitration and class action experience. His recent work includes acting for independent directors of Great-West Funds connection with litigation under Section 36(b) of the Investment Company Act, alleging breach of fiduciary duty by the investment adviser. Regulatory enforcement specialist Junaid Zubairi is ‘a very effective advocate and has had major engagement in numerous civil securities matters’.
Other key lawyers:
Randall Lending; Junaid Zubairi
‘Strong team with SEC regulatory experience. Very practical and strategic in their approach to these cases. Excellent at collaboration and cost-efficient.’
‘Junaid Zubairi is a leader in this area and has had major engagement in numerous civil securities matters. He’s a very effective advocate.’
Mark Wogsland (Roadrunner Transportation Systems, Inc.)
CDW Corporation and CDW Direct, LLC
Independent Directors of Great-West Funds
Zachary Horwitz and 1inMM Capital, LLC
Independent Directors of American Century Funds
Power Solutions International, Inc.
U.S. Bancorp Fund Services, LLC
- Representing Matthew Panuwat in litigation filed by the SEC in federal court, wherein the SEC has alleged that our client engaged in insider trading under a “shadow trading” theory.
- After obtaining a complete defense verdict in federal court on criminal securities fraud charges in 2021, the firm continues to represent Mark Wogsland, a former director of accounting for a publicly traded logistics company, in connection with an ongoing companion civil case brought by the SEC.
- Representing USBFS, a provider of back-office fund services, in connection with several civil litigation matters stemming from the highly publicized losses sustained by a mutual fund and hedge funds managed by non-client Infinity Q Capital Management.